Turkcell Iletisim Hi...
IBSE:TCELL
₺
98,70
₺
₺-0,80 (-0,80%)
98,70
₺
₺-0,80 (-0,80%)
End-of-day quote: 12/23/2025
Turkcell Iletisim Hizmetleri A.S. Stock Value
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Turkcell Iletisim Hizmetleri A.S. Company Info
EPS Growth 5Y
48,58%
Market Cap
₺216,56 B
Long-Term Debt
₺48,66 B
Annual earnings
02/26/2026
Dividend
₺3,60
Dividend Yield
3,65%
Founded
1993
Industry
Country
ISIN Number
Website
Analyst Price Target
₺140,00
41.84%
Last Update: 12/23/2025
Analysts: 11
Highest Price Target ₺171,00
Average Price Target ₺140,00
Lowest Price Target ₺101,20
In the last five quarters, Turkcell Iletisim Hizmetleri A.S.’s Price Target has risen from ₺118,58 to ₺145,57 - a 22,76% increase. Two analysts predict that Turkcell Iletisim Hizmetleri A.S.’s share price will increase in the coming year, reaching ₺140,00. This would represent an increase of 41,84%.
Top growth stocks in the communication services sector (5Y.)
What does Turkcell Iletisim Hizmetleri A.S. do?
Turkcell Iletisim Hizmetleri A.S. (Turkcell) engages in establishing and operating a Global System for Mobile Communications ('GSM') network in Turkiye and regional states.
The company has differentiated its network through its quality and speed of service built on extensive spectrum rights covering 43% of the total spectrum available to mobile operators in Turkiye, with an extensive network coverage. The company has also focused on building an advanced fiber network to support the company's mo...
Turkcell Iletisim Hizmetleri A.S. (Turkcell) engages in establishing and operating a Global System for Mobile Communications ('GSM') network in Turkiye and regional states.
The company has differentiated its network through its quality and speed of service built on extensive spectrum rights covering 43% of the total spectrum available to mobile operators in Turkiye, with an extensive network coverage. The company has also focused on building an advanced fiber network to support the company's mobile and fixed offerings, including broadband and TV services. The company has its own fiber network of 61.8 thousand km backbone that is capable of offering up to 10 Gbps.
In accordance with the company's strategy, the company reports its telecom, digital services and digital business services related activities in Turkiye and outside of Turkiye under the Turkcell Turkiye and Turkcell International segments, respectively. The company reports its financial services businesses under the company's techfin segment.
Turkcell Turkiye comprises the company's telecom and digital services related businesses in Turkiye.
Turkcell International comprises the company's telecom and digital services related businesses outside of Turkiye. The company has telecommunications operations in a number of international markets that are complementary to the company's operations in Turkiye and provide the potential to export the company's business model.
Techfin comprises all the company's financial services businesses inside and outside of Turkiye. Techfin accounted for 4.3% of the company's revenues in the year ended December 31, 2023, and is mainly derived from Financell (which accounted for 2.2% of the company's revenues in the year ended December 31, 2023), Paycell (which accounted for 2.0% of the company's revenues in the year ended December 31, 2023) and Turkcell Dijital Sigorta (which accounted for 0.1% of the company's revenues in the year ended December 31, 2023).
Other segment mainly comprises the company's call center, energy businesses, and retail channel operations, smart devices management and consumer electronics sales through digital channels of Turkcell Satis, and intersegment eliminations.
Strategy
Telecommunication remains the company's core business and its primary focus. As the second pillar of the company's strategy, the company intends to achieve growth beyond telecommunication services. Turkcell began its digital transformation with the intention of becoming a provider of the full set of digital experiences for its customers through the company's B2C services. The company's unique portfolio of digital services, such as TV, music, data storage and digital communication are made available to the company's customers through its market-leading telecommunication capabilities, which sets the company apart from global OTT players.
The company constantly reviews and optimizes its product portfolio, focusing on and highlighting the leading products. Already offered by the company's international subsidiaries, the company's digital services are set for expansion in new markets through commercial partnerships, mainly with other telecom operators. As an example of this, the company entered into strategic partnerships with Veon Group to advance BiP, Turkcell's instant communication service, in Pakistan, Bangladesh and Uzbekistan.
The company also focuses on digital B2B services as part of its growth beyond the telecommunication business. Turkcell Digital Business Services, the company's technology service provider company, continues to provide tailor-made, end-to-end information & technology ('ICT') solutions which include connectivity, data center and cloud solutions, security services, system integration and managed services, new generation technologies and business applications for enterprise customers, small and medium-sized enterprises ('SMEs') and central and local authorities by leveraging the company's ability to combine telecom and IT services with the aim of adding value in their digital transformation. The company particularly targets sectors, such as health, manufacturing, retail, central and local authorities, logistics, finance and energy. As per the recent International Data Corporation ('IDC') report, Turkcell Digital Business Services has been the market leader based on revenues in the IT services market in Turkiye since 2020 and the company intends to sustain the company's leadership position.
As a further pillar of growth beyond the company's telecommunication strategy, the company continues to focus on digital financial services, or 'techfin services'. Financell is one of the key players in the Turkish financing sector, providing financing solutions to corporate and individual customers for their purchases of technology-based services and products. The company's mobile payment company, Paycell, has established key vertical business lines including mobile wallet, carrier billing (Pay Later), utility payments, money transfer, QR code payments and POS services. Going forward, Paycell intends to focus on scaling its products, targeting both consumers and merchants to establish its position as the leading fintech company in Turkiye and to seek expansion opportunities into other carefully selected countries. Paycell aims to increase its recognition in the international arena with business partnerships and company establishments. With the company's insurtech company Wiyo, the company intends to provide fast and easy access insurance products with a strong customer focus.
The company plans to continue to provide digital solutions to meet the needs of both the company's individual and corporate customers and to ensure their digital transformation by simplifying the areas the company has entered so far and focusing on, and deepening, the company's market, in particular in new areas.
Customer Segmentation and Services
Customer Segmentation
In Turkiye, the company has various mobile subscribers, fixed broadband subscribers, and IPTV subscribers.
Turkcell Turkiye divides its customers into three main categories: consumers, corporate and wholesale. Within each category, Turkcell further divides its customers into specific segments and sub-segments.
Turkcell Turkiye's three main customer categories are described below.
Consumer Category
The company's consumer category includes mobile and fixed broadband customers, including sole proprietorship subscribers. Within the consumer category, the company manages its mobile subscribers either under the mass segment or under one of the company's three large sub-segments, youth, women and premium. In addition, the company applies a micro segmented approach, meaning that each customer is matched with offers that best suit their needs and expectations. In line with the company's intention of being a digital service provider and enlarging the company's customer base, the company provides numerous offers and campaigns enriched with the company's digital services such as BiP, fizy, TV+, lifebox and GAME+ in accordance with market dynamics and customer demand.
Fixed broadband customers are consolidated under a single segment (residential) and managed under the consumer category along with mobile consumers. By positioning the residential segment under the consumer category, the company intends to enhance synergy between mobile and fixed businesses. Under the residential segment, the company has its fiber internet customers, who use the company's own fiber infrastructure, and the company's DSL and cable customers, to whom Turkcell is a reseller. Turkcell's FWA service, Superbox, is also managed under the residential segment.
Corporate Category
The corporate category for the company's mobile and fixed customers incorporates its small and medium business customers, coupled with the company's enterprise customers. The company specializes in tailoring unique mobile and fixed communication solutions for each customer segment, while concurrently assisting them in navigating and enhancing their digital transformation journey through the company's comprehensive suite of digital business services.
Wholesale Category
The company's wholesale category focuses on managing wholesale voice, data, roaming, tower and digital services with the national licensed operators, international operators and network-centric business owners such as data centers and content providers.
For roaming services, the wholesale category strives to achieve the best international coverage for customers to have continuous communication wherever they travel and to enable all visitors to enjoy the service quality of Turkcell.
For wholesale data and voice services, the company's main strategy is to become the regional junction point in an increasingly digitally hyper-connected world, and while promoting the company's infrastructure in the international market, the company is focused on growing as a preferred wholesale partner of local operators in the domestic market as well.
Services
The company provides high quality mobile and fixed voice, data, TV and digital services to the company's subscribers throughout Turkiye. The company's mobile subscribers can choose between the company's postpaid and prepaid services. Postpaid subscribers sign a subscription contract for 12 months and receive monthly bills for services.
The company provides a range of fixed services in Turkiye including voice, broadband and IPTV to consumers and a wider range of services to the company's corporate customers from cloud services to traffic carrying. The company provides these services through a combination of the company's own fiber infrastructure, through sharing agreements and leased copper ADSL lines. As such, the company offers fixed broadband services through the cable infrastructure of Turksat, the government-owned provider of cable and wireless broadcasting, high-speed internet services, and direct to home broadcasting services in Turkiye.
In addition to conventional telecommunication services (mobile and fixed broadband services), the company provides a range of digital services related to communication, music streaming, entertainment to individuals, cybersecurity, data center, cloud to enterprises, as well as services under techfin categories.
Voice Services
Voice services are among the key services that the company provides to its customers. Voice services consist of high-quality mobile communication services on a prepaid and postpaid basis and fixed voice services for consumers and corporate customers.
Broadband Services
The company's broadband services consist of mobile broadband, fiber to the home/building, xDSL, cable and FWA over the company's mobile network.
The company's capability to offer 4.5G in all of 81 cities in Turkiye has resulted in increased network abilities and data speeds. 4.5G services coupled with the wider availability of technological products has contributed to a more connected life for the company's customers, resulting in an increase in overall internet usage. As of December 31, 2023, the number of subscribers who have signed up for 4.5G on the company's network was 36.8 million. This represents 97% 4.5G subscriber penetration of the company's mobile subscribers in Turkiye.
Distributors, dealers, Financell, the company's finance company, and Turkcell offer joint campaigns to subscribers, which may include the sale of devices by the dealer and a communication service to be provided by the company. In addition, the company is selling handsets itself as a principal. A variety of devices are offered through these campaigns, such as smartphones, LTE available modems and tablets and some complementary products such as accessories, game consoles, headsets and virtual reality sets. The company delivers attractive joint campaigns with models of brands in high demand and some local handset manufacturers.
The company offers fixed broadband internet tariffs to its residential customers. The company also offers internet, voice and TV bundles, where the company benefits from the use of its own fiber. The company needs the incumbent's network to provide services outside its own fiber infrastructure, and in these circumstances, the company differentiates its offering with its unique brand and the company's competitive customer service. Outside of the company's own fiber infrastructure the company is able to offer double-play packages with broadband and voice to the company's customers. The company does not offer IPTV service on DSL because its TV technology is IP-based and has a multicast structure, and for technical reasons DSL infrastructure cannot support this type of service, however, the company has alternative solutions that also work with xDSL services, like TV+ Pro. The company emphasizes its 'no hidden fees' value proposition with the company's broadband products by not charging its customers for activation, modem or installation services separately, and by offering high-speed fiber broadband at attractive prices. In previous years, the company focused on 100 Mbps and higher speeds in fiber campaigns in line with the company's high-speed strategy. This year, the company revised its strategy to 200 Mbps packages and over.
In addition to the internet, voice and TV bundles, the company's residential broadband customers are offered the fixed broadband and fiber device bundled campaigns, where specific models of new technology devices are offered to customers with 12- or 24-month internet service contracts.
The company also serves its customers with its FWA service Superbox, which offers wireless high-speed internet access for customers and is primarily preferred by those who are at locations with no fiber infrastructure. Superbox is the first and the widest FWA service in Turkiye. The service uses the LTE Advanced network as a backhaul to provide internet connectivity. In 2023, the company had a balanced growth strategy which is basically lean on network optimization. As of December 31, 2023, the company had 720 thousand Superbox customers in Turkiye. Superbox subscribers are considered as mobile subscribers as the service is provided over the company's mobile network.
Digital Services and Solutions
Turkcell has a large portfolio of mobile applications which can be downloaded from app markets and are available on iOS, Android and HarmonyOS platforms. These applications are available for any user regardless of their choice of mobile operator. All of these apps are created and/or sustained by the company's in-house mobile application development team consisted of more than a thousand R&D engineers.
Turkcell seeks to differentiate itself by providing innovative and pioneering solutions in collaboration with its strong solution providers and various partnerships. Having established stand-alone companies for some of these services, the company has taken a step towards their global competitive positioning. These companies include the ones for BiP, lifebox, TV+, fizy services and Lifecell Digital Services (Lifecell Dijital Servisler, including gaming and digital advertising services), with which the company intends to stand out in the global competitive arena. As part of this structure, these brands aim to conduct their activities in a faster manner and with a greater focus with their own organizational structures.
In 2023, the company had 5.6 million standalone paid users which mainly include subscriptions for IPTV, mobile (OTT) TV, fizy, lifebox and Game+. The performance of the company's digital services portfolio is monitored internally through KPIs that are relevant to each individual service.
BiP is a free communication and life platform that has has more than 110 million downloads in 192 countries worldwide, available in mobile devices as well as through web access as of 2023. BiP has implemented many features before its competitors, such as disappearing messages, P2P money transfer, and HD quality group voice and video calls with up to 15 people supported, in addition to instant messaging, audio and video calling features. BiP differentiates with leading features, like BiP Discover services (Infotainment, brand collaboration and internal communication etc.) which is suitable for daily life and corporate communication, a main menu with the 'personalization' feature, and an instant translation feature that allows instant chat in 106 different languages. At the same time, with the 'Emergency' feature, BiP enables calling emergency line with a single button, sending notifications to multiple pre-selected contacts with location during an emergency situation and messaging via Bluetooth technology, even when there is no broadband services.
TV+is a multi-screen TV platform launched in 2014, providing over 150 channels for subscribers to enjoy an enhanced television experience. Distinguished by features such as live stream pause and rewind, cloud recording, and the ability to switch between four screens, TV+ supports Ultra HD 4K content and is accessible on various platforms including Apple TV, Android TV, TV+ Ready, TV+ Pro and Smart TV applications. TV+ Ready is the first to introduce a bundled Android TV offer in the Turkish market, allowing users access to additional apps through the Google Play store. In addition to TV+'s ease of use; the platform strengthens its archive in sports, TV series, movies, children's content, documentaries to increase the loyalty of its users.
fizy is a digital music service offering more than 55 million songs, podcasts, videos, live concerts and radio channels with high quality sound for a monthly subscription fee with 'premium,' 'student,' 'family' and 'duo' options that also include data available for this service. Premium users can stream ad-free, and have the flexibility to listen to songs offline. The application offers personalization through enhanced-AI technology.
lifebox, Turkcell's personal cloud service provides worldwide users with a secure space for photos, documents, contacts, and videos, along with auto-sync and easy sharing features. Users receive 5GB of free storage upon downloading, and the service includes AI-driven features like PhotoPick for Instagram. Launched in 2020, 'lifebox transfer' facilitates fast, free file sharing, and in 2021, 'lifebox business' was introduced as a cloud solution for enterprises, ensuring data protection compliance and enhancing remote work efficiency without requiring storage infrastructure investments.
Iste Suit, provides users with a one-stop service with e-mail (SuitMail, formerly known as YaaniMail), file management (Lifebox Business), office applications (Suit Docs, Suit Sheets, Suit Slides) and video conferencing (Suit Conference, formerly known as BiPMeet) solutions for corporate companies developed by Turkcell engineers. In March 2023, the company began offering Suit Mail, Suit Drive, Suit Conference, and Suit Office services, previously provided to corporate customers individually, under the unified product Iste Suit, accessible through a single portal and management panel.
UpCall, is an application enriching and facilitating the company's customers' calling experience with its different features offered through the company's capabilities as a telecommunication operator. When a call is received from a number that is not saved in the user's phonebook, the caller's ID is displayed by UpCall. The application also offers a smart search feature that enables the access to the identity of the owner of an unknown number based on the Turkish National Telephone Directory.
GAME+, is the cloud gaming platform through which the company started to offer a brand-new experience in 2021 over Turkish servers as part of its cooperation with the world's most popular cloud gaming platform NVIDIA GEFORCE NOW. Cloud gaming technology, which is increasingly popular in the gaming sector, eliminates the need for powerful hardware. Thanks to GAME+, the necessity for users to have expensive hardware and larger disk space is eliminated.
Digital Identity Management Services
Mobile Signature, introduced in 2007 as the world's first mobile signature solution, employs public key infrastructure ('PKI') on SIM cards. This innovative technology enables mobile subscribers to legally sign electronic documents and transactions in a manner equivalent to a wet-ink signature. As of 2023, Mobile Signature has reached 76 thousand subscribers, allowing users to securely verify their identity and conveniently conduct transactions in the digital realm.
One Time Password is used by service providers as a secondary factor for authentication of transactions. The service allows service providers to send a single-use password via SMS to their end users in order to ensure transaction security. It is commonly used for online banking processes and login transactions.
Digital Business Services
Turkcell Digital Business Services combines the overall telecom service provider strategy of Turkcell with its 'Digital Transformation Business Partner' strategy for corporate customers. The company contributes to the digital economy by providing end-to-end digital solutions for both private and public enterprise customers. Furthermore, the company implements projects with high value propositions, while helping the company's clients to increase their profits by lowering their operating costs and/or generating higher revenue.
In addition to connectivity services based on the company's strong infrastructure, the company offers various services such as system integrations and managed services, data center and cloud solutions, cyber security services, new generation technologies and business applications such as IoT, big data analytics and AI technologies and industrial vertical solutions.
Fixed telco & Cyber Security Services
The company serves the Turkish market with its 61.8 thousand km end-to-end fiber infrastructure, enabling the company to provide superior quality service. Turkcell's value proposition of connectivity infrastructure has three main components: fixed data services, fixed voice & unified communications services and cyber-security services.
Turkcell provides telecommunication services by using its own fiber infrastructure, mobile network capabilities and other communication technologies to meet the connectivity needs of its corporate customers.
With Turkcell's carrier grade software-defined networking in a wide area network ('SD-WAN') infrastructure, Turkcell serves traditional and next generation network services within a single solution. Turkcell intends to continue to keep on building a multi-vendor architecture with a white-box approach onboarding several more of the leading software vendors under the Turkcell SD-WAN and SD Security offerings.
Managed Security Services is provided to corporate customers for their cyber-security needs and includes DDoS protection, managed firewall services, new generation security services, such as penetration and vulnerability services, threat intelligence services, managed security operation center and security orchestration automation response service.
At the beginning of 2021, Turkcell started to serve cloud-based security services which enable Turkcell to provide flexible capacity offerings with different security products and vendors. With this initiative Turkcell's cloud-based security service portfolio gained quick installation capabilities. Turkcell is offering several main security vendors' products on own cloud infrastructure and plans to add new vendors to security portfolio.
Turkcell is managing a 'Security Operation Center' named 'Cyber Defense Center - CDC' that allows enterprise customers to achieve a holistic security approach by enabling customers to collect security logs and correlate items to proactively detect security incidents. Turkcell is also managing a Security Orchestration, Automation and Response (SOAR) service. With this service, customers' security incidents can be immediately notified to customers via e-mail, automatically assigned to analysts and response actions taken in other network tools.
Turkcell manages over 6,000 cyber security services in total for around 3,100 customers. Furthermore, through its proactive approach, Turkcell has developed its own threat intelligence platform named 'Turkcell Bozok.'
Data Center & Cloud Services
Turkcell offers a wide range of data center solutions to its corporate customers. These services range from co-location solutions to cloud infrastructure (next generation virtual server, virtual data center), backup, disaster recovery, Kubernetes as a service, finance cloud and security services. As at the end of 2023, Turkcell managed over 35,000 virtual servers and protected more than 40 Petabyte of data for its corporate customers. Given the demand in the market, the company intends to make further investments in data centers over the next few years.
All of the company's eight data centers, of which four are new generation and four are traditional, are ISO 9001, ISO 27001, ISO 27017, ISO 20000, ISO 22301, ISO 10002 and ISO 50001 certified. In addition to these certifications, the company's new generation data centers have Tier III (Design, Facility and Operation), Leed Gold and PCI-DSS certifications.
As of December 31, 2023, the company's four new generation datacenters in Turkiye have approximately 31,550 sqm. of total white space area capacity, where IT equipment is placed, and have 54 MW total IT capacity, of which 33 MW is active.
Kocaeli Gebze data center, opened in 2016, has 10,000 sqm white area and 17 MW IT energy capacity on an area of 33,000 sqm.
Izmir data center, opened in 2018, has 2,350 sqm white area and 3.4 MW IT energy capacity on an area of 14,500 sqm.
Ankara Temelli data center, opened in 2019, has 12,000 sqm white area and 21.3 MW IT energy capacity on an area of 46,200 sqm.
Tekirdag European data center, opened in 2021, has 7,200 sqm white area, 12.1 MW IT energy capacity on an area of 37,272 sqm.
Turkcell offers cloud services from seven of its data centers with high availability and reliability standards. The company has integrated all of its cloud services on the website, 'www.turkcellbulut.com.' Users can use the latest technologies providing business continuity over Turkcell Cloud without undertaking investment costs. The Government Cloud service provides higher security controls for government institutions to secure sensitive data. Turkcell Cloud is the first cloud platform that is certified with ISO27017 'Cloud Computing Information Security' certification in Turkiye. Turkcell also offers services of global providers such as Microsoft Azure, Amazon Web Services ('AWS') and Huawei Cloud as Multi-Cloud services.
System Integration and Managed Services-End to End Solutions
The company provides end-to-end solutions for customers as part of their digital transformation process, by combining the company's telecom and IT services capabilities. In these projects, the company analyzes the needs of its customers from a wide range of industries and provides tailor-made solutions to individual needs-the company has implemented around 3,500 projects to date with a Total Contract Value (TCV) of TRY 11.6 billion (not restated for IAS 29). With the company's project management team, the company implements system integration projects, IT outsourcing projects, network, security and system management services, application management, end-user services, data center services, digital transformation, IoT, mobile applications, mobile user support and many other solutions and services in accordance with the business processes of the company's customers.
New Generation Technologies and Business Applications
Digital Business Applications
Business Applications ensure corporate customers a competitive advantage by providing non-core industrial solutions. Product portfolio is mainly based on cloud-based SaaS productivity and digital transformation products. Through the company's global productivity and collaboration offerings, Microsoft 365 and the company's inhouse products IsteSuit, the company covers mail, storage and conferencing needs for corporate customers. Also, digital invoicing and digital learning solutions along with new generation products are available to streamline customer processes and provide operational efficiency through new revenue streaming channels, better customer reach and experience. The company is focusing on process automation, remote order and e-commerce solutions as they have become crucial with and after the COVID-19 pandemic.
With the rise of the enterprise applications market as well as improvements in mobile internet, cloud services and mobile devices, corporates have been undergoing a strategically important process of digital and mobile transformation. Turkcell continues to be a strategic business partner to companies in all industries for transformation projects that aim to render all processes manageable via mobile devices anytime and anywhere.
Internet of Things Products & Solution Management
Turkcell has focused on its Machine-to-Machine ('M2M') and IoT business since 2009, whose principal markets in Turkiye include car telematics, team tracking, fleet management, POS terminals, security alarms, smart metering, mobile health management, smart agriculture, smart energy and sales force automation applications.
Turkcell strives to continue to pioneer M2M business with the release of services on upcoming new technologies such as IoT, NarrowBand-Internet of Things ('NB-IoT') and Long Term Evolution for Machines ('LTE-M') which is a type of low-power wide-area network radio communication technology standard developed by 3GPP for M2M and Internet of Things applications. In addition to those technologies, M2M eSIM (Remote SIM Provisioning) and its customer-based solutions are also ready for Turkcell customers.
The company launched connected car tariffs in March 2023, where the company provides solutions to vehicle manufacturers for their data, SMS, voice and e-call needs.
Mobility, a key IoT vertical for Turkcell, refers to the integrated application of smart technologies and management strategies in mobility systems, which includes B2B vehicle tracking, team tracking, connected car solutions and fleet management. Within the 'Turkcell Kopilot Filom' and 'Rahat Takip' services, Turkcell enables firms to track their fleet on maps, access critical reports about their fleet and encourage their drivers to drive safely, with a user-friendly platform through web and mobile applications. In addition, corporate customers can monitor and manage their sales forces and fleets with Ekip Mobil ('Team Mobile'). The service is a management console that allows customers to view their field teams/vehicles on a map, define alarms for specific regions and create direct communication channels to the field. Team Mobile can be used on any mobile device and comes with a minimal investment cost for companies.
The company also designs Industry 4.0 and energy solutions that increase the productivity of enterprises in the field of intelligent production and integrated digital energy management solutions. The company provides solutions to manage smart factories that are redesigned for operational efficiency and lower energy consumption. These smart services include workforce tracking, social distance management, environmental conditions monitoring, forklift security, machine production management and panic button for production facilities to help them to increase occupational safety and efficiency.
Big Data Analytics Services and Solutions
Turkcell provides big data analytics services to companies to help them understand industry dynamics and intensity of competition. These services also enable companies to obtain information on their customer base by providing demographic, behavioral and competitor analysis to help them support their marketing strategy through data. The company creates new insights and propositions by leveraging artificial intelligence, machine learning and data analytics capabilities. The company's data analytics practices are designed to be carried out strictly with the explicit consent of individuals, in order to ensure compliance with data protection regulations and respect user privacy. The company has two main service offerings in Big Data domain: 'Insights as a Service' and 'Analytics as a Service'.
Insights as a Service (Business Insights) is designed to create an end to end solution for B2B customer market research needs. Turkcell provides a comprehensive market research or performance report to several sectors on brands' and competitors' customer profile, branch visits, density metrics, and purchasing behavior, always prioritizing customer consent and data protection regulations. This serves as an innovative and data-based alternative to traditional market research. Also, base station signals are used for location analytics and mobility index projects to create data-based decision-making process for transportation and public sectors, or help companies boost their outdoor marketing activities by enabling them to find the best locations that match their brand.
Analytics as a Service (Business Analytics) was launched in 2020. Through this service, Turkcell has developed unique solutions to enrich customer offerings by analyzing the behavioral data from Turkcell users who have explicitly consented to data collection. These services help customers improve their analytics models such as sales forecasting, customer segmentation, credit risk scoring, fraud scoring and digital customer scoring. In 2021, test analytics scenarios (PoCs) were implemented with several firms from different sectors. Successful PoCs in mainly finance and e-commerce sectors have been achieved and new sector-based use cases have been created from these PoCs.
Industry Specific Solutions
Besides the company's value-added IT services, the company implements digital transformation projects with the company's consultants, who are experts in their fields, designing vertical solutions that address the needs of each sector. For the company's target sectors, including health, manufacturing, retail, central and local authorities, logistics, finance, energy and SMEs, the company offers solution sets that meet industry specific requirements.
In the health industry, as a system integrator who provides and operates all relevant technology services and solutions, the company holds a leading position in the public-private partnership ('PPP') City Hospitals market in terms of both the number of beds and the number of hospitals. Eight city hospitals (Yozgat, Adana, Eskisehir, Elazig, Bursa, Basaksehir, Tekirdag and Gaziantep hospitals) are in operation and the entire technology infrastructure, from hardware to software and from systems to operations, is managed by Turkcell. As of 2023 year-end, total bed capacity of 8 PPP hospitals was over 10 thousand, strengthening the company's market leadership.
In addition to PPP City Hospitals projects, the company executes additional system integration projects, such as a vaccine tracking system, an electronic emergency case system for ambulances and a health provision system for the Turkish Parliament.
With the company's experienced consultants, the company follows industry-specific digital transformation trends and provide end-to-end solutions by using new emerging technologies such as IoT, big data, AI and machine learning. In the manufacturing industry, the company has implemented Industry 4.0 projects which enable companies to harness the power of data in order to streamline their operations, reduce maintenance costs and ensure quality in the manufacturing process. Several Industry 4.0 projects were implemented in pharmaceutical, heavy industries, oil and gas and automotive supplier industries in 2023. Analyzing dynamic and real data through the company's big data services, the company supports its customers' strategic decision-making process, thus contributing to their profitability and efficiency. As part of the digital transformation journey of organizations, the company meets all their needs end-to-end, ranging from team and document management to digitalization of financial processes and staff trainings.
The company also provides various solutions for cities' fundamental needs which are mostly positioned on a single Turkcell Smart City Ecosystem including Smart Transportation, Energy, Living and Environment. The company supported digital transformation of public transport especially for taxis and buses. Also, the company develop projects by using GSM-based data to make contribution for urban mobility plans in cities. The company helps central authorities to provide technologies for nationwide projects regarding industrywide problems. 'Fire Detection Project' is one of the company's projects that the company has designed for Ministry of Forest in which image processing and AI technologies are used for early warning of forest fires.
The company also provides various solutions for the retail industry in order to meet customer requirements by adding essential technologies such as machine learning and computer intention technologies. Some use cases are customer segmentation, customer activity in sales point, customer demographic analysis and visitor monitoring.
Partner Ecosystem and Vendors
The company works with around 245 partners in its ecosystem. The company has consolidated its partners in three different categories:
Sales partners: Through the company's sales business partners, the company focuses on creating new sales prospects for its products, services and system integration projects. The company's wide network of these companies enables its services to achieve sales targets.
Project solution/value add partners: The company delivers project-based hardware, software and managed services solutions to its corporate customers together with the company's project solution partners.
Product solution partners: Product solution partners offer and/or develop specific corporate product solutions for Turkcell corporate customers.
In 2023, the company continued the 'Partner Program,' which was launched in 2020, where the company has created an incremental value of partnership for over 40 sales business partners of different competencies in the company's ecosystem. The company intends to grow its ecosystem qualitatively with a win-win approach, through which the company's partners are positioning its product/services together with their own solutions and services.
The company also continued the 'Partner 360 Program,' which was launched in 2021, to enhance and further grow the company's partner ecosystem with new partners to focus on emerging technology opportunities. The company's program also aims to provide additional synergies to generate mutual benefits and revenues to the company's existing ecosystem.
With the company's global technological partnerships, the company is deepening and adding new partners to the IT projects the company implements for its customers by combining its ever-increasing competencies and extensive sales force. The company intends to provide fast and effective solutions with the Hardware & Software Catalogue that the company has created specifically for the IT needs of its SME customers.
Techfin Services
Turkcell focuses on techfin services through the company's digital payment services platform, Paycell, the company's finance company Financell, and the company's insurance agency Turkcell Sigorta, as well as the company's recently launched insurance company, Turkcell Dijital Sigorta.
The intention of Paycell is to be an enabler on financial inclusion with the combination of technology and financial services to lead the transition into a cashless society. Paycell was established to provide techfin services including mobile wallet, direct carrier billing (Pay Later), utility payments, POS solutions, prepaid cards (physical and virtual), money transfers, intracity subway/bus card uploads (istanbulkart), Vitrin (e-commerce solution), Payment Link and QR code payments. The company is committed to capitalizing on this well-established payment platform by leveraging the company's technological know-how as well as the company's advanced infrastructure. Paycell's aim with end-to-end payment solutions is to bring the merchants and the consumers together, by offering ease-of-use, new technology and tangible benefits to the consumers while facilitating further revenue generation for the merchants through payment and CRM solutions.
The company's finance company, Financell, serves to meet the financial needs of individual and corporate customers for their technology products. Financell also provides shopping loans via Paycell platform, automobile loans via merchant partnerships and recently started providing green loans for solar panels via project firms.
Established in 2018 as a subsidiary of Financell, Turkcell Sigorta is an insurance agency providing device protection, personal accident insurance, bill protection and travel health products.
In June 2022, within the scope of Turkcell's digital financial services strategy, Turkcell Dijital Sigorta (Turkcell Digital Insurance Company), with the brand Wiyo, was incorporated as a subsidiary of Financell in order to develop the existing insurance business within Turkcell to a full-fledged insurtech structure. The company's insurance license applications for personal accident, health, general losses, general liability, financial losses, legal expenses and fire and natural disaster have been approved by the Turkish Insurance and Private Pension Regulation and Supervision Authority (SEDDK) as of 2023. Within the intention of 'Being the insurer of mobile world' Wiyo started its operations providing personal accident protection to Financell loan customers in June 2023 and diversified its offerings by introducing personal accident insurance products in November 2023.
Wholesale
International Roaming
The company's international roaming strategy has always been to achieve vast international coverage for the company's customers by providing continuous communication wherever they travel and to enable international visitors to enjoy the service quality of Turkcell. The company's coverage extends to many countries around the world through the company's roaming agreements. As of December 31, 2023, the company had further enhanced its position as a leading mobile operator of international roaming services in Turkiye by expanding the company's partnership in 210 destinations throughout the world, pursuant to commercial roaming agreements with 816 operators.
On January 20, 2015, the company launched LTE roaming services for its subscribers in numerous locations around the world. As of December 31, 2023, the company's subscribers experienced LTE roaming services with 343 operators in 146 destinations. The company has also provided LTE roaming services for visitors since April 1, 2016. As of December 31, 2023, subscribers of 402 operators from 129 different locations experienced LTE roaming services on the Turkcell network. The company also provide international GPRS, MMS and 3G services. The company provides roaming services for both postpaid and prepaid subscribers of foreign mobile operators visiting Turkiye. As of December 31, 2023, the company's subscribers can send international SMS to various destinations that the company's three SMS hub vendors cover. On June 29, 2021, the company launched Non-Standalone (NSA) 5G roaming services for the company's subscribers in various locations around the world. As of December 31, 2023, the company's subscribers experienced NSA 5G roaming services with 143 operators in 58 destinations. On May 5, 2022, the company launched the first Voice over LTE ('VoLTE') outbound service in Turkiye.
The company has entered into direct international roaming agreements with GSM operators around the world, including in Cuba, Iran, Sudan, Libya and Syria.
Wholesale Voice
Turkcell and Turkcell Superonline together supply wholesale voice service by establishing interconnection agreements with fixed line and mobile operators and international carriers.
As of December 31, 2023, Turkcell Superonline had interconnection agreements with over 90 national and international carriers. Turkcell has interconnection agreements with Turk Telekom, Vodafone, TT Mobil and other fixed telephony service operators and via these agreements, parties connect their networks to enable the transmission of calls to and from their mobile communications system. As of December 31, 2023, Turkcell had interconnection agreements with over 60 fixed line and mobile operators and carriers.
As of December 31, 2023, Turkcell had agreements with seven Directory Service Providers.
A full MVNO agreement was signed between Turkcell and Netgsm, a local telecommunications company, on November 5, 2020.
Wholesale Data
The company's intention on wholesale data is to become a preferred regional player in a digitally hyper-connected world. To do this, the company has developed a robust infrastructure which includes 13 border crossings from Turkiye to other jurisdictions. Five border crossings are towards Europe where the company offers various options to connect with important European cities through protected and completely separate routes. Eight of the border crossings are towards the East, where the company offers capacity services to Middle East, CIS and Asia. In accordance with the company's strategy, Turkcell Superonline is also establishing and executing a domestic wholesale business strategy to provide wholesale products such as bit stream access via its FTTx fiber coverage, infrastructure services, backbone transmission, Ethernet, IP transit capacities, cyber security and virtual private network ('VPN') services to operators, service providers and data center companies in the domestic market in Turkiye. Turkcell Superonline is leading the localization strategy for Turkiye's data and internet traffic by developing partnerships with national operators, internet exchange platforms, Tier-1 operators, global/local content and cloud service providers to enable direct access to all networks and also commercializing internet traffic.
Turkcell Superonline has been taking important steps to develop Istanbul as the world's newest and important internet and content base due to its geostrategic location by successfully handling the transformation of the 'Silk Road' into the 'Fiber Road.' Accordingly, the company provides a bridge between east and west, which supplies a continuous connection with partnerships, the Tier-1 operators and strategic partners between Asia, Middle East and Europe. Turkcell Superonline provides telecom services to more than 150 international operators including Tier-1 companies, Content Delivery Networks ('CDN') and OTTs. As of December 31, 2023, the company had the capacity to carry more than 15 Tbps of international traffic.
Tariffs
The company's charges for voice, data and digital services consist mainly of bundles and also monthly fees, subscription fees, and volume discount schemes and options under various tariff schemes.
The company has various segmented tariff plans for mobile that target specific subscriber groups (postpaid or prepaid, corporate or consumer). A majority of the company's customers choose all inclusive packages which include minutes to Turkcell and national calls, intra company calls (for the corporate segment), SMS and data.
The company provides offers to its customers based on machine learning models that are at different price and rich content levels. The company intends to provide the right offers to the right customers by considering parameters such as risk scores, usages, tenure etc. The company also ensures that its customers reach the same offers through all channels. The company uses machine learning models to understand customers' tendencies to purchase more or less inclusive packages. Additionally, the company runs a model that measures the company's customers' churn tendencies. All these models are integrated to the offer management systems. Turkcell's fixed offers are based on speed and quota. The tariffs are designed by taking different needs of each customer segment into consideration.
Turkcell's own fiber infrastructure enables fiber offers with speeds of up to 10 Gbps, which the company usually offers as bundled with its TV product. Turkcell's ADSL service offers speeds up to 16 Mbps which can be offered as bundled with fixed voice service. VDSL service provides higher speeds of up to 100 Mbps. The company's cable internet offers are at speeds up to 35 Mbps. The company's FWA service Superbox offers are at speeds up to 375 Mbps with a minimum speed of 15 Mbps.
Turkcell's strategy is to provide the best customer experience through enriched value propositions and over a well-invested infrastructure.
Consumer Tariffs and Loyalty Programs
The company mainly offers bundled tariffs including voice, data and SMS. The company focuses on providing a leading mobile experience in Turkiye, and in order to meet customer needs in different segments the company offers a large portfolio of tariffs. Data quotas have become the key selling point in the company's tariffs which are enriched with the company's digital services.
In fixed broadband products (fiber, DSL and Cable internet), the company has various tariffs for different internet speeds and quota. The company offers internet speeds ranging from 25 Mbps to 10 Gbps in fiber internet, which the company serves through its own infrastructure. The company used to offer tariffs on both a 12 month and a 24 month commitment basis for fixed broadband. In order to have the ability quickly combat inflationary pressures, the company has changed all of its fixed tariffs to a 12 month commitment basis.
The company offers IPTV service, namely TV+, bundled only with its fiber internet service on the company's fiber infrastructure. The company's fixed voice service is bundled with its fixed broadband service. Further, the company also offers tablet, smartphone and new technology device campaigns with fixed broadband internet packages. In 2020, the company launched TV+ Ready, which enables TV+ to be used with any fixed broadband technology.
For households that located in areas where the company's fiber infrastructure is not available, the company offers the FWA service, Superbox, served through the company's 4.5G network. The Superbox device is included in the subscription plan.
With a customer-oriented focus, Turkcell offers alternative options depending on their roaming frequency. All Turkcell postpaid customers can enjoy the 'Roam Like Home' offer, enabling them to use their tariff at home while abroad by paying an additional daily fee.
The company has three applications called Platinum, GNC, and Turkcell Bizce which serve as platforms for the company's loyalty programs.
Platinum is Turkcell's premium customer program for both consumer and corporate subscribers. Customers who use Platinum and Platinum Black tariffs are eligible to use the privileges Turkcell Platinum offers through a specially designed application. Platinum tariffs start from a minimum TRY 480 in acquisition and include richer package contents. The Platinum app offers one-on-one 24/7 customer service and gifts that suit the lifestyle of Platinum customers. Weekly discounts at popular online shopping brands, free monthly subscriptions for digital TV platforms, free GBs, device and accessory gifts, airport transfers and car wash services at numerous locations are amongst the gifts that are offered through this Platinum program.
GNC is a mobile application that offers entertainment and favors for youth segment users. New entertainment platforms have been launched on GNC in order to increase engagement and to provide advantageous offers and gifts. Young users can play GB-earning mobile games, attend game tournaments and win prizes on GNC. GNC also shares surprise data offers twice a week through gamification scenarios such as 'Crack the Egg' and provides discounts and gift cards from youth's favorite brands in a new platform 'galaxy,' where they collect stars to redeem gifts and discounts. In 2023, GNC launched GNC UP, a new video and social media platform to add a socialization dimension to the GNC app.
Turkcell Bizce is a platform aimed at women that supports personal development and economic engagement for women. The platform provides customers free data packages via collecting coupons which also has tutorial videos and inspiring contents as well as games and special brand offers. The usage of Turkcell Bizce is data free, and the design of the application offers a seamless customer experience.
In 2023, as part of the company's 'Shake & Win' campaign, which the company started as a loyalty program in 2016, the company redesigned the platform and the visuals to be more appealing and simple for the company's customers.The company continued to implement additional scenarios for special occasions to maintain customer satisfaction. In 2024, the company intends to sustain its Shake & Win innovations to increase the company's customers access to the exclusive content of Turkcell.
In addition, considering the increasing value of the mobile gaming industry among the young consumer segment, the company offers mobile tariffs and additional packages for gamers, which are used in selected popular games.
Corporate Tariffs and Loyalty Programs
The company's emphasis is on comprehensively addressing diverse corporate customer segments by integrating connectivity services with digital transformation solutions. Tailored offers, featuring the best network and service experience, provide for specific needs of each sector. The company offers different options of bundle packages including voice minutes, data, SMS, company on net, roaming and international minutes.
The company intends to increase customer satisfaction by tracking the experience of the company's existing customers throughout their Turkcell lifecyles. The company succeed in providing its customers with the most suitable offers at the right time by developing and using analytical data modeling.
One of the company's key focuses is to provide the company's corporate customers with the best internet experience in both fixed and mobile connectivity. Through Turkcell Superonline's independent fiber backbone as well as the DSL infrastructure of the incumbent fixed operator, the company deliver fixed internet services.
As the company aspires to become corporates' technology partner in their digital transformation journey, the company also provide a wide range of integrated services and solutions for them through the company's subsidiary, Turkcell Digital Business Services. These services include cloud services, security solutions, systems integration, the Internet of Things (IoT), M2M Communication and artificial intelligence.
By implementing the IsTurkcell Plus Loyalty Program, the company offers its customers non-telecom benefits, aiding them in optimizing business expenditures and boosting employee satisfaction. Through a range of benefits in various categories, including vehicle rental, car maintenance, health services, and courier solutions, the company strategically facilitates their business operations, fostering bilateral loyalty.
Wholesale Tariffs
Based on Turkcell's roaming agreements, Turkcell hosts subscribers of foreign operators on its network. When a subscriber of a foreign operator makes a call using Turkcell's network, that subscriber's operator pays the company its inter-operator tariff for the specific call type. Inter-operator tariff is a wholesale tariff applied between mobile operators with roaming agreements.
Interconnection rates in Turkiye are based on the ICTA's decision on the interconnection tariffs for Turkcell, Vodafone, TT Mobil, Turk Telekom and fixed telephony service operators.
With respect to data sales, Turkcell intends to provide competitive prices to promote Istanbul as a regional hub for peering and IP transit services and international capacities, as well as to support the domestic wholesale market through its robust network with feasible commercial conditions.
Seasonality
Historically, the effects of seasonality on mobile communications usage have positively influenced the company's results in the second and third quarters of the fiscal year (year ended December 2023) and negatively influenced the company's results in the first and fourth quarters of the fiscal year. These seasonality effects have been less significant as the company typically launches marketing campaigns to address the change in demand levels. Local and religious holidays in Turkiye generally affect the company's operational results positively through higher consumption.
Historically, the effects of seasonality on fixed broadband usage have negatively influenced the company's results in the third quarter of the fiscal year. This is mainly due to the summer holidays, when both usage and acquisition numbers decrease and churn increases due to residents moving.
Mobile and Fixed Network
Coverage
Turkcell's mobile network ensures extensive coverage across Turkiye, including the Black Sea, Sea of Marmara, Mediterranean Sea, and Aegean Sea coastlines. Enhanced coverage extends to sparsely populated areas, surpassing the minimum requirements for 2G licensing. The company intends to diligently meet regulatory obligations for 2G, 3G License Agreements, and IMT Authorization.
Spectrum refarming is a strategic planning process to efficiently utilize frequency spectrums for newer technologies. Turkcell focuses on refarming the 2100 MHz band from 3G to 4.5G. In 2023, spectrum refarming helped to increase LTE capacity and coverage.
As of December 31, 2023, the company's own fiber network reached 61.8 thousand kilometers and connects all cities across Turkiye. In 28 cities the company has FTTH network and homepass, whereby the number of premises that are connected to the company's fiber network has reached 5.8 million. Through partnership engagements, the company has become capable of delivering fiber and cable (hybrid-fiber coaxial) internet service to an approximately 3.1 million additional households (by the company's calculation), by which the company reach to 35 cities in total. The company also provide senterprise Wi-Fi services.
In the fixed access network, the company has two main network structures called fiber to the building ('FTTB') and FTTH. The company started a FTTB transformation project to convert the company's FTTB network to FTTH network. With this transformation, the company will be providing multi-gigabit services to the company's customers and aim to reduce the company's carbon footprint. In FTTH networks, the company is installing Gigabit Passive Optical Network ('GPON') and 10-Gigabit-capable symmetric passive optical network ('XGS-PON') equipment which is the latest access NT for residential and corporate subscribers. These network structures enable Turkcell to offer high speed internet, TV, Voice over IP. The fixed access network also provides bandwidth requirement for mobile sites with metro ethernet services.
The company provides FTTH services to customers in four cities of the 11 provinces that were impacted by Southeastern Turkiye Earthquakes, therefore the impact was rather milder than the company's mobile network base.
Quality of Service
The ICTA published a 'Regulation on Quality of Service in the Electronic Communications Sector' on September 12, 2010, effective as of December 31, 2011. The Turkcell network is above the standards set by the ICTA statement.
Customer experience is a one of the key focuses for Turkcell, and there are several special solutions such as small cells, femto cells, Wi-Fi offload, inbuilding and high-capacity event solutions for enhancing this experience.
On the fixed network side, the company monitors traffic utilization in its access network continuously to prevent any saturation and upgrade the capacity as soon as possible. Turkcell modifies and redesigns the network topology in anticipation of future requirements, which allows the company to improve its quality of service performance.
The optical transmission network relies on Dense Wavelength Division Multiplexing ('DWDM') systems with Automatically Switching Optical Network ('ASON') and Optical Transport Network ('OTN') using protection mechanisms benefitting from alternative fiber routes wherever available. This increases the capabilities of re-routing in the event of service interruption. Thus, the delivered point to point services provide an availability experience up to 99.999%; a quality level defining the transmission network as an upper level 'carrier-class' network.
Network Evolution
Radio Network
In 2015, Turkcell expanded its spectrum holdings to 234.4 MHz, constituting 43% of Turkiye's mobile operator spectrum assets. Benefiting from substantial infrastructure investments, the company's 4.5G network evolved from peak speeds of 375 Mbps to 1600 Mbps. Turkcell's 4.5G network supports LTE Advanced Pro technology, providing high-end features for increasing capacity and network experience, such as 4x4 MIMO, 256QAM, 3-4-5 Carrier Aggregation, UL Carrier Aggregation and also supports machine type communication technologies like NB-IoT, enhanced Machine Type Communications ('eMTC'). As technology evolves, Turkcell always focuses on sustaining its leadership, enhancing customer experience, and introducing new services.
Having resources in different spectrum bands and utilizing them in a technology-agnostic manner significantly enhances the efficiency of Turkcell's network. The 900 MHz band is utilized for GSM and UMTS, enhancing indoor coverage. The 2100 MHz band, predominantly allocated to LTE networks, facilitates efficient and rapid expansion of LTE coverage and capacity.
In the IMT-Advanced ('4.5G') tender held on August 26, 2015, Turkcell acquired large amounts of both frequency division duplex ('FDD') spectrum: 2x10 MHz from the 800 MHz, an additional 2x1.4 MHz from the 900 MHz, 2x29.8 MHz from the 1800 MHz, additional 2x10 MHz from the 2100 MHz, and 2x25 MHz from the 2600 MHz frequency bands. For time division duplex ('TDD') frequencies, 1x10 MHz from the 2100 MHz and 1x10 MHz from the 2600 MHz bands were also acquired. All frequency bands are technology-neutral and can be used for any technology, providing efficiency and flexibility for spectrum usage in the network. The company uses the 900 MHz band for 2G and 3G, the 2100 MHz band for 3G and 4.5G, and the 800 MHz, 1800 MHz and 2600 MHz bands for 4.5G.
For voice services, VoLTE has been supported from day one to provide voice services over the company's 4.5G network. The company activated Enhanced Voice Services ('EVS') on the company's VoLTE voice service to further enhance the voice quality and thus became one of the first mobile operators in the world supporting this high-end feature. The applicable regulations mandate that the company's 2G network remains active until April 2029; however, the majority of the company's voice traffic is already carried by its 3G and 4.5G networks, enabling the company to gradually make its 2G network leaner without impacting service experience of the company's customers. As the VoLTE terminal support base grows, voice services will continue to be migrated to the 4.5G network from legacy 3G/2G networks.
In order to provide a solution for VPN over wireless technologies like 4.5G, the company announced the Mobile VPN offer to its corporate customers. Through this solution, corporates are able to connect to the internet cloud over a wireless interface using 4.5G technology, without sacrificing their service quality requirements. This is a fast and flexible solution for connections between their branch offices and headquarters.
NB-IoT and eMTC (or LTE-M) are terms that typically refer to wireless communication technologies designed for IoT applications. These technologies are characterized by low power consumption, extensive coverage, and a requirement for low data rates. Through the company's investment in 4.5G infrastructure, the company became the first operator in Turkiye to support NB-IoT and eMTC (LTE-M), which are required for a new generation of innovative IoT applications on 4.5G networks. These technologies are available on request across the company's entire 4.5G footprint and enable machines to communicate more effectively. Furthermore, through the company's LTE-M network support which enables fleet management, asset tracking and micromobility (such as rental scooters), the company is able to provide higher data transfer throughput and have better mobility for IoT communications.
The company provides a 'Wireless to the Home' or 'FWA' service Superbox, which offers wireless high-speed internet access for customers without fiber connectivity. The service uses 4.5G network as a backhaul to provide internet connectivity at the company's customers' premises.
Offering a unique experience to customers with Turkcell's strong 4.5G infrastructure, the company continues its efforts to prepare its network for 5G. The company uses the Massive MIMO, which is a wireless communication technology that uses a large number of antennas to improve communication between devices. It allows more devices to connect simultaneously, providing a faster and more reliable wireless experience. These collective activities help the company to maximize spectral efficiency, further enhancing network capacity and improving overall user experience. Turkcell has a significant competitive advantage with its Massive MIMO, in addition to having the widest spectrum in Turkiye.
Furthermore, the company has been closely cooperating with the company's network vendors for long term prospects through projects that enable Turkcell to deploy the latest technologies even before their availability on the market. This puts Turkcell at the forefront of the technology race and allows for the evaluation of the new technology benefits in the development phase, and then their timely deployment when they are commercially available.
Turkcell continues to provide extensive support to projects involving domestic products, mainly for fulfilling obligations related to the usage of domestically produced network equipment as per the 4.5G license. The company cooperates with domestic companies regarding base stations, antennas, transports and infrastructure solutions. For example, the ULAK Project initially started as an initiative of the Undersecretariat for Defense Industries ('UDI'), aimed at designing and developing national software and hardware components for an LTE-Advanced communication system and enhancing Turkiye's self-sufficiency in this area. ULAK has become a network vendor, producing 4.5G base stations. The first deployments of ULAK base stations in the network were realized in a city in the north-eastern part of Turkiye in 2018. Additionally, Communications Technologies Group aims to provide an end-to-end local and national 5G solution, which is funded by TUBITAK (The Scientific and Technological Research Council of Turkiye). Turkcell is one of the major project partners of this group, and is responsible for generating use cases and requirements.
In the scope of 5G and beyond communications, the company contributes to the activities of international organizations such as 3GPP, ITU-T, GSMA, NGMN, ONF, TIP, and 5G IA (the private arm of 5G-PPP, which is now 6G Smart Networks and Services Industry Association ('6G SNS-IA')), by attending meetings, joining work groups, projects and programs that help the company follows the latest developments in next generation technologies and shape the company's future strategies.
The next generation R&D ('NG&RD'), formerly 5G R&D, which was formed in 2017, is engaged in a number of national and international multi-party public-funded projects to attain knowledge, expertise and intention in 5G communications. Moving beyond the state-of-the-art, the 5G-MOBIX consortium, which is funded by the European Commission (EC), serves to develop 5G-enabled cooperative, connected and automated mobility for vehicles, where Turkcell is the leader of the Greece-Turkiye corridor. For 5G-MOBIX, which happens to be the first 5G-PPP and also Horizon 2020 project of Turkcell, vehicular communication services tailor-made to assess seamless and efficient crossing of the hard borders between Turkiye and Greece were developed and tested using commercial-grade 5G technology. As of the end of 2023, Turkcell has achieved all tasks and completed the project by receiving technical and financial approvals from the EC. In its second 5G PPP project, DRAGON, Turkcell explores the performance limits of the D-band (i.e. 130-174.8 GHz) which is expected to offer high-capacity wireless backhaul links to 5G and beyond systems, in especially dense urban areas. In addition, a project funded under Horizon Europe, COMMECT, aims to improve the welfare state of people living in rural areas by integrating the 5G network with non-terrestrial networks ('NTN') for agricultural applications with a generation-independent (XG), environmentally friendly and accessible NT. Four ECSEL/KDT projects, jointly funded by the EC and TUBITAK, are carried out by Turkcell to deliver drone services, cellular vehicular communications in smart construction site, artificial intelligence (AI) at the edge for autonomous vehicles, and integration of digital twins, cloud, augmented reality and AI technologies for Industry 4.0 applications with the ADACORSA, BEYOND5, STORAIGE, and HiCONNECTS consortia, respectively. The Celtic-Plus project portfolio is also diverse: (i) the development of an AI/ML-based quality-of-service (QoE/CEI) is the main target of the IMMINENCE project, (ii) energy saving and green networks are the focus of RAI6GREEN (sequel project of AI4GREEN) and (iii) energy-efficient data transfer is the motivation of AI-SMECoT.
In order to closely follow the development of the next generation mobile network technologies, to be a part of it and to become one of the leaders of its development, the NG&RD entitled to receive TUBITAK 1515 Frontier R&D laboratory support program funding for 10 years to set up a research lab on 6G and AI, named as 6GEN Lab, making Turkcell the second company in its sector to receive this funding. The objectives of 6GEN Lab are to design the autonomous 6G network and integrate with vertical sectors in line with its capabilities. In addition to the R&D activities to be conducted in the scope of the 6GEN Lab, the next generation R&D team also has active roles in the international consortia by European projects. Upon this evolutionary path toward the development of 6G networks, the VERGE consortium as the first SNS-JU project of Turkcell, tackles the evolution of edge computing in Beyond-5G applications from the perspectives of Edge for AI, AI for Edge and the security, privacy and trustworthiness of AI for Edge. Turkcell is also on the advisory board of the STARDUST project, which homes in on the creation of a completely integrated 5G-NTN autonomous system with a cutting-edge, self-adapting and end-to-end connection approach to enable ubiquitous radio access.
Turkcell has signed Memorandum of Understanding (MoU) agreements with its vendors (Ericsson, Huawei, Nokia, Samsung, ZTE, ULAK, Aselsan) to boost collaboration with the global and national partners. In one joint effort, Turkcell and ULAK developed a generalized Coordinated Multi Point (CoMP) feature to enhance cell-edge user performance for the ULAK base station, which is now a part of the 4.5G radio network. In addition, some studies are carried out on Ultra-Reliable Low Latency Communications ('URLLC') and high mobility support in 5G NR networks under the direction of universities with the support of TUBITAK. Turkcell also supports 5G-based research using its own internal resources, working to reveal the usage areas of 5G in the robotics industry, creating a new income potential for Turkcell with the 5G robotic use case, and to prepare it for network slicing and cloud technologies, which are the key enabler features of 5G.
In addition to technology organizations and vendors, Turkcell engages with universities and research centers. Specifically, enhanced mobile broadband and Ultra-Reliable-Low-Latency Communication use cases are thoroughly studied with Istanbul Technical University and Istanbul Medipol University, respectively, through TUBITAK-funded R&D projects. Furthermore, Next Generation R&D has been working on Reconfigurable Intelligent Surfaces (RIS) and Integrated Sensing and Communication (ISAC) in collaboration with TUBITAK-BILGEM and Koc University when focusing on research based EU proposals, as well as looking for potential business opportunities for the commercial usage in the future.
With leading global vendors including Ericsson, Huawei, ZTE, Nokia and Samsung, the company has been demonstrating and trialing 5G since 2017. Within the scope of the first 5G use cases, the company tested FWA and AR/VR to take additional steps into the 5G era. The company continues its trial and demo projects with all possible vendors and reach out to new vertical sectors. The main objective of the company's 5G trials and demos is to be prepared for the 5G frequency auction and 5G network launch, by assessing all vendors to determine the best network products and solutions. The company also aim to create 5G use cases, which will be ready at the outset, when 5G networks are commercially launched in Turkiye.
Furthermore, the company led the 5G network deployment at Istanbul Airport, which is an active sharing solution serving three mobile operators. The network is in the 3500 MHz band in which each operator is assigned a 100 MHz channel bandwidth. Although the frequency auction of this band has not yet been launched in Turkiye, the ICTA has given special permission to mobile operators to deploy 5G solutions on this band. The 5G network at the Istanbul Airport became the first commercial 5G network utilizing new 5G frequencies in Turkiye.
Although the company does not yet have a nationwide commercial 5G network in Turkiye, the company is enabling its customers to experience 5G services abroad, provided they have 5G-enabled devices with 4.5G SIM cards and activate it via an SMS. In this regard, as of December 31, 2023, the company's outbound roaming customers had the privilege of using 5G services in a number of destinations including Germany, Belgium, China, Italy, Romania, Saudi Arabia, and Thailand.
Transmission Network
The company has invested in topology redundancy projects in its IP/MPLS backhaul for better service availability. Fiber backhaul bandwidth capacities were increased for wide coverage of up to 10 Gbps. 4.5G applications and the Microwave Radio Link network were modernized for Native Ethernet and Adaptive Modulation support to increase availability and reduce outages resulting from severe rain conditions. Usage of fiber connectivity is moving further from High-RAN aggregation points towards Low-RAN aggregation points. Furthermore, fiber to mobile site applications have been started for 4.5G readiness of sites with very high traffic. Transmission network services on DWDM provide 100Gbps and 400Gbps service capacities for inner IP Core Network routers, optimizing use of existing wide area fiberoptics deployments.
All fixed and mobile transport-IP networks have been converged with high scale and leading-edge technology routers in order to be ready for the capacity demand of 5G applications.
Core Network
Turkcell provides (i) voice services over 2G and 3G access, (ii) HD voice services over 4.5G access using both VoLTE and VoWiFi technologies, and (iii) fixed voice services to consumer and corporate customers. The 2G and 3G voice services are provided by IP based layered Next Generation Network (NGN) infrastructure. The VoLTE and VoWifi voice services for 4.5G subscribers are provided by IMS (IP Multimedia Subsystem) and all subscribers can use seamless HD Voice technology via VoLTE and VoWiFi infrastructure. Seamless handovers are performed between VoLTE and VoWiFi, and between VoLTE and 2/3G technologies in the company's core voice network. Fixed voice services are also provided by dedicated IMS infrastructure.
The company's entire voice network has all levels of geographic redundancy. The control layer (central resources) provides voice services from four central data centers that fully back up each other. The voice payload layer (local resources) is spread over many locations that are close to the subscribers.
Turkcell provides a wide variety of data services to customers through high-speed and low latency data connectivity. The company's access agnostic broadband core network architecture consists of 3GPP compliant network entities supporting mobile 2G, 3G, 4.5G and fixed access technologies.
The existing network of Turkcell is 5G NSA ready and Turkcell plans the next steps of the journey to introduce new 5G services by considering the roadmap of network technologies and market demand. With respect to the company's sustainable network initiatives, the company has completed analysis and pilot tests on IPv6 network evolution and part of the company's mobile and fixed network traffic is carried using IPv6 technology.
Both IMS voice and broadband network services are deployed and growing on Turkcell telco cloud infrastructure due to its low cost and flexibility advantages. In addition to supplying the growing data and service requirements of existing 4.5G traffic, Turkcell is positioning its network to be capable of providing 5G services scaling on its own telco cloud. Network functions of 5G SA (Standalone Architecture) core network are all developed on container based cloud technologies in the industry. Hence the transition to telco cloud infrastructure also helps get the network ready for 5G SA. Accordingly, the company is growing its core network on container platform technology, which provides more flexibility and investment feasibility through deploying cloud native network functions. This technology has been a critical step in the company's 5G core network readiness.
Fixed Network
The company's own fiber optic network provides up to 10 Gbps high speed internet service in 28 cities across Turkiye. The company is installing and investing in EDGE technology access equipment in the company's network. With this strategy Turkcell will be ready to offer future customer experiences. The company offers 10 Gbps high speed internet as an on-demand service since February 2018.
During the COVID-19 pandemic period, the company increased its in-home investments and provided the first Wi-Fi 6 supported Home-Gateways, which significantly increase in-home service experience. The company also initiated virtualized access network projects and has been actively involved in Open Networking Foundation (ONF) projects which promotes experience sharing and early adoption of future technologies, and assisted in its early phase development.
The company is providing end-to-end Wi-Fi services for its enterprise customers, which enables their guests to access Wi-Fi. The Enterprise Wi-Fi service includes installation with authentication services, and further provides the necessary interface.
Furthermore, Turkcell launched commercial 400 Gbps in its backbone at the end of 2023. The company is continuously investing in its backbone network in order to be prepared for bandwidth-intensive services with the latest technology.
Services and Platforms
The company has an intelligent network and other service platforms enabling its services and the company also provides secure and controlled access to the network for content and service providers to provide messaging and data services. This infrastructure is being improved to open up more capabilities on the network for application and content providers. New infrastructure also contains a portal where subscribers buy services, receive promotions and enroll for campaigns easily.
Network Operations
The company has primarily employed experienced internal personnel for network engineering and other design activities, while employing suppliers for its network infrastructure and as the company's partners in product/service development. The company's suppliers install the base station cell site equipment and switches on a turn-key basis, while subcontractors employed by the company's suppliers perform the actual site preparation.
Network Maintenance
The company has entered into several system service agreements. Under these agreements, the company's mobile and fixed communications network, including hardware repair and replacement, software and system support services, consultation services and emergency services are supplied by local providers. The company's subcontractors perform corrective and preventive maintenance on the company's mobile and fixed communications network in the field, although providers repair all the network equipment. The company has regional operation units with qualified Turkcell staff that operate and maintain the company's network in Turkiye.
In addition, the Turkcell Service Operation Center, located in both Istanbul and Ankara, aims to ensure business continuity by monitoring the company's entire network 24 hours a day, 365 days a year, and performs necessary maintenance in response to any problems that may arise.
Site Leasing
Site leasing processes and construction of the masts or towers are performed by the company's wholly-owned subsidiary, Global Tower. The company leases the land and provide site management services (yearly rental payments, contract renewals, rework permits) through Global Tower. If the company decides to buy the land, another wholly-owned subsidiary, Turkcell Gayrimenkul handles the necessary procedures. The company also manages all these processes for technical demands for Turkcell Superonline and Global Tower.
Business Continuity Management
Turkcell Business Continuity Management ('BCM') identifies potential threats and their impact and provides a framework for building resilience with the ability to create an effective response that safeguards the interests of the company's key stakeholders, their reputation, brand and value-creating activities. The company established the Business Continuity Management System ('BCMS') to implement, operate, monitor, review, maintain and improve business continuity.
Turkcell BCMS is assisted by business continuity coordinators at technical and non-technical groups. Regular BCM training and awareness programs are carried out throughout the organization. The effectiveness of BCMS is monitored every year through internal/external audits and integrated exercises, the results of which are reviewed in management review meetings. In 2023, the company exercised and tested its business continuity plans, communication and warning procedures to ensure that they are consistent with the business continuity objectives.
Turkcell Service Continuity Management aims to ensure the continuity and recovery activities of the services provided to the company's customers, by providing the continuity of the service commitment levels, managing the risks that may affect the company's services, including disasters and emergencies, and supporting the Turkcell Business Continuity Management System. Turkcell has also developed a Crisis Management Plan, which is aimed at effectively managing a crisis, including fire, terrorism, operational interruption, cyber-attack, food poisoning, epidemics and natural disasters (flood, earthquake, landslide). Turkcell's Crisis Management Plan exercises, training and awareness activities are carried out periodically with the participation of crisis management teams and related groups.
Enterprise Risk Management
Turkcell's Enterprise Risk Management ('ERM') team is responsible for coordinating the process of identifying, assessing and overseeing actions by management and the company's business units to manage the risks that may affect the business objectives of the company. ERM supplies an information platform to management regarding the risks that may impact the decision-making process. Turkcell ERM aims to develop an approach of integrating risk management with the core management processes, as well as enterprise risk culture. To do this, Turkcell uses an ERM framework which is compatible with the COSO ERM framework and the ISO 31000 Standard.
Sales and Marketing
The company designs its sales and marketing strategy around subscriber needs and expectations. The company tries to ensure the loyalty of its subscribers by providing offers, campaigns and the company's advanced service delivery platforms.
Sales Channel
The company serves through one of the largest retail telecommunications distribution networks in Turkiye, with 1,091 branded exclusive stores, many at prime locations, and 3,919 semi-branded dealers (i.e. digital sales points) as of December 31, 2023. The company's two exclusive distributors provide the company's products as well as consumer technology goods (such as handsets, tablets, notebooks, IoT devices, accessories, personal care products, small home appliances, TV and household appliances) and aftersales services to this wide dealer network, while eight exclusive Turkcell Distribution Centers ('TDCs') focus solely on semi-branded dealers. The company also has a door-to-door sales force and home technology management team. This provides the company an important channel on which to distribute the company's integrated solutions directly to consumers' homes. The company also operates a dedicated corporate direct sales team of over 580 personnel who can offer tailored solutions in their segment of expertise.
The company's distribution network consists of distributors, TDCs, Turkcell branded stores (Turkcell Plus & Turkcell), corporate solution centers, and semi-branded dealers, digital channels and ATMs. The company offers postpaid and prepaid mobile subscriptions, fixed and mobile tariffs and solutions, Superbox Plug&Play modems and digital service subscriptions through the company's distribution network. The total number of branded and semi-branded dealers, including corporate solution centers, was around 5.1 thousand sales points as of December 31, 2023.
The company's non-branded dealer network provides the company a high penetration across Turkiye.
The company categorizes its alternative sales channels under two main categories: the company's call centers and non-telco sales. The company offers a fast and secure access to its products and service portfolio on a 24/7 basis via the company's call center, its web site (www.turkcell.com.tr) and the Turkcell Mobile App. The company proactively reaches its customers through the company's telesales team. The company's non-telco channel consists of ATMs, internet branches of banks and chain stores.
Alternative sales channels have been the main channel for digital service sales. Along with prepaid top-up sales on the bank channel, alternative sales channels contribute to product sales through various campaigns, including fizy, TV+, Lifebox and GAME+. Weekly, monthly and yearly packages of these services sold through a promocode model to both Turkcell and non-Turkcell customers. With the sale of the company's digital products in technology stores and hypermarkets, alternative sales channels increase both the sales of the products and customer awareness through brand collaborations.
During 2023, the company's digital sales channels continued to transform comprehensively. Accordingly, UX and UI components as well as the entire shopping journey are tailored to the needs of the company's customers. Based on customer insight analysis, payment options have expanded and became more diverse. In the company's digital channels, the company has been providing two main platforms: Turkcell's official website and Turkcell's mobile application. The company's website has been serving as a sales channel since 2012.
The primary digital channel is the company's mobile application 'Turkcell App' through which the company provides its mobile and fixed broadband customers the ability to track their bills and data usage, manage their subscriptions, browse campaigns and offers, buy packages, and reach Pasaj, the electronic marketplace. Turkcell App had 74 million downloads to date and 25 million three-month active users in 2023. The company's chatbot Turkcell Celly assists Turkcell customers in a fast and easy manner. The company also continued to use the Turkcell App as the platform to offer a marketing campaign called 'Shake & Win,' where the company provides gifts in the form of data, minutes or trial subscriptions to the company's digital services. The company's fixed broadband subscribers can also manage their accounts within Turkcell app.
With a view to leveraging the company's capabilities in digital channels, in December 2020, the company launched a technology and electronics marketplace (an e-commerce platform) in Turkiye, called Turkcell Pasaj. At Turkcell Pasaj, a wide range of electronic goods, from smart devices to new generation technologies, are offered from several leading suppliers besides Turkcell. Customers are offered different payment alternatives including shopping credit, mobile payment and Paycell digital money, besides debit/credit card and also financing through Financell. Turkcell Pasaj offers same-day delivery in some cities and courier guarantee in one business day. The company has integrated Turkcell Pasaj as a core component of the Turkcell app. Turkcell App users - regardless of being a Turkcell subscriber or not - are able to browse the entire Turkcell Pasaj product catalog, compare prices across sellers, favorite or purchase products within the app easily and securely. In 2023, Pasaj continued to grow with new categories both in online retail and the marketplace. Also, Turkcell Pasaj contributes to sustainability, notably by providing an online platform to revalue second-hand devices and convert the customer's second-hand devices into cash.
On the corporate front, corporate clients are managed under four different segments: public accounts, strategic accounts, major accounts, small and medium sized business accounts. Turkcell's account managers are direct contacts for the first three segments, while the company's dealers and telesales teams are responsible for the small sized business segment. Additionally, IsTurkcell Online app and web platform feature the company's digital services and solutions for corporate customers. The platforms are enriched with digital-only campaigns and packages, loyalty scenarios, and a fully digital subscription process. In 2023, 96 thousand authorized users used IsTurkcell Online app and web platform.
Within Turkcell's sales teams, in addition to the account managers, pre-sales teams, solution architects, business development and product management teams also support corporate clients. Furthermore, vertical solution teams were formed to develop industry specific solutions for certain industries including retail, manufacturing, energy, healthcare, finance, transportation and logistics. These teams aim to create cross industry solutions to serve the digital transformation of the company's corporate clients.
Turkcell also provides turnkey mobile and digital transformation and IT outsourcing projects for large corporations with the contribution of solution partners.
Customer and Experience Management
The key part of the company's customer and experience management strategy is to provide the company's customers with effortless, personalized and consistent experience across all channels.
With respect to the provision of customer services, the company mainly works with its subsidiary Turkcell Global Bilgi. Turkcell Global Bilgi is operating in Turkiye and Ukraine. Turkcell Global Bilgi, in addition to conventional call center services, including telesales and collection, also provides research management, customer experience journey design, social media management and technological support services. Turkcell Global Bilgi develops its own digital platforms such as robotic process automation, cloud-based call center infrastructure and digital assistant.
Turkcell's customer service strategies for contact centers are implemented by Turkcell Global Bilgi. The company audits their operations along with monitoring whether customer services and customer satisfaction programs are executed in line with Turkcell's customer strategies.
As a result of the company's investments in the Turkcell App the company's primary online self-service channel has reached 25.1 million three-month active users. Further, the company continued to conduct numerous projects to improve customer experience over IVR, a digital platform connecting Turkcell to its customers. The company refurbished and modernized this channel with artificial intelligence technologies, and created the company's own 'Digital Assistant,' which was a contributing factor to the considerable improvement of the performance of this channel. Thanks to renewed proactive IVR scenarios, the company started to offer more personalized service to its customers through this channel. The company also utilizes IVR call center solutions in its fixed broadband services.
Turkcell developed chat-based service channels, where customers can access the company anytime and anywhere quickly and easily without connecting to the call center. Customers can also contact Turkcell via instant messaging to ask a question about their lines or the company's applications. In 2023, there were around 7.3 million such chat sessions on average per month. With artificial intelligence based chatbot technology, Turkcell has increased the automation level of its instant chat-based services for its customers.
Turkcell connects with social media users 24/7 with a total of 65 accounts on Facebook, X (formerly known as Twitter), Instagram, YouTube, LinkedIn and TikTok.
With the company's customer-centric culture transformation program, more than 2,500 Turkcell employees from all levels have taken part voluntarily in various customer experience projects. In 2023, the company opened the door for innovation and user centricity by creating a special space called 'TXCube', Turkcell's design thinking studio. TXCube provides a space for the company's employees at the company's headquarters to work together with cross functional teams to design different product and customer journeys. Moreover, the company kicked off site visits which the company named 'CXPress Tour'.
International and Domestic Subsidiaries
A component of the company's strategy is to grow or improve its business in the company's home market and in the international markets where the company is already present.
Ukraine-lifecell
The company acquired its interest in its subsidiary lifecell (operating under the 'life:)' brand) on April 2, 2004, by purchasing the entire share capital of lifecell's parent, CJSC Digital Cellular Communications. On January 15, 2016, the company announced a new stage of its development, made a large-scale rebranding into 'lifecell,' and in connection therewith changed its legal name to 'lifecell LLC' on February 2, 2016.
The company is highly motivated to continue its innovation leadership in marketing and sales. lifecell launched 3G services on May 19, 2015, becoming the first operator to offer a 3G network in Ukraine. The National Commission for the State Regulation of Communications and Informatization (NCCIR) held the 4G license tenders for the 2600 MHz band on January 23, 2018 and for the 1800 MHz band on February 26, 2018. lifecell was awarded 4G licenses for 15 years at a cost of UAH 909 million (equivalent to TRY 173 million as of December 31, 2018), and UAH 795 million (equivalent to TRY 151 million as of December 31, 2018) for the 15 MHz in each frequency band. After winning the tenders, lifecell launched 4G services in the 2600 MHz band on March 30, 2018 and in the 1800 MHz band on July 1, 2018, becoming the first operator to offer 4.5G services in Ukraine nationwide. As of December 31, 2023, 4.5G from lifecell is available in over 17,000 towns and settlements in Ukraine. lifecell provides 3G&4G coverage of 78.7% of the population of Ukraine, or 61.7% geographical coverage. As of December 2023, lifecell continues its leadership in smartphone penetration with 83.5% in the Ukrainian telecommunication market. lifecell was the first Ukrainian mobile operator to launch VoLTE and VoWiFi technologies for calls via VoLTE and VoWiFi in 2022. In May 2023, lifecell provided its roaming subscribers an opportunity to use 5G in roaming in a number of countries.
There are 473 exclusive lifecell shops in 247 cities across Ukraine as of December 31, 2023. In addition, lifecell products are available at 29.8 thousand other sales points throughout Ukraine. lifecell also has an online sales channel, shop.lifecell.ua.
lifecell has license obligations to provide mobile communications coverage to settlements with population exceeding 2,000 people, including 90% of the territory of Ukraine and spanning national and international routes. In accordance with the adopted amendments to the Law of Ukraine 'On Electronic Communications,' the deadlines for fulfilling licenses obligations for usage of radio frequency spectrum in Ukraine were postponed for the period of martial law in Ukraine, including six months after its termination or cancellation. NCEC can review and extend these terms up to two years. This decision should be made at least one month before termination of six-month delay. In order to make such decision NCEC has to perform evaluation of feasibility for mobile operators to comply with licenses obligations in full.
Mobile Number Portability ('MNP') was introduced in Ukraine in May 2019. In 2023, lifecell launched the opportunity to transfer the mobile number to lifecell directly in the online banking application monobank, the most popular in Ukraine. As of December 31, 2023, lifecell was the leader based on number of MNP port-in subscribers, according to the National Commission for the State Regulation of Electronic Communications, Radio Frequency Spectrum and the Provision of Postal Services.
lifecell launched its first MVNO partnership in July 2016 with one of the largest national internet service providers (Volia-Cable). By the end of 2023, lifecell had 12 active MVNO partnerships.
Since 2017, the company has a strategic focus on developing high-quality digital services. Accordingly, lifecell offers Turkcell's digital services including BiP messenger and lifebox cloud storage. Among other digital services lifecell customers may choose TV+ for watching TV channels and films, lifecell music streaming service, language learning Busuu service, mobile phone protection from theft and screen protection with Protect Mobile and lifecell screen services. Moreover, lifecell users can enjoy a game-based learning application launched for kids' education and smart entertainment. In December 2021, lifecell cooperated with WhiteBIT cryptocurrency exchange for future development of innovative financial technologies. In 2022, lifecell and WhiteBIT have developed and implemented technological integration for joining blockchain systems with telecommunications services. The integration enables customers to access the WhiteBIT platform without an internet connection, using the USSD menu on mobile phones.
In response to the need in the Ukrainian market for cardless and cashless payment services, lifecell introduced its online money transfer tool, and in August 2017, Paycell LLC was incorporated as a subsidiary of lifecell. Paycell LLC operated as a financial institution and perform loan granting, leasing, money transfer and e-money services. Licenses for leasing and loan granting were obtained in October 2017, and licenses for e-money and local currency transfers were obtained in September and October 2018, respectively. However, these licenses were suspended due to the war.
lifecell ceased recording revenues from Crimea and Sevastopol city as of the end of September 2014 and impaired its assets in that region. Furthermore, in 2016 the company also discontinued services and lost its revenue stream from the uncontrolled territories of Luhansk region and since February 2017 lifecell has been unable to provide mobile services and ceased recording revenue in the disputed part of the Donetsk region. The company impaired its assets in the disputed part of the Donetsk and Luhansk region in the fourth quarter of 2017.
After the Russia invasion on February 24, 2022, lifecell continued its operations providing services to subscribers throughout Ukraine, except in areas where equipment has been damaged as a result of hostilities and access is impossible. lifecell together with other mobile operators launched national roaming throughout Ukraine. As a result, subscribers of any Ukrainian mobile operator can use the network of another operator if their home network becomes unavailable. The war has not led to a decrease in the company's subscriber base in Ukraine. The company has no major collection risk, as lifecell's subscribers are mainly prepaid.
In 2023, despite the active hostilities and shelling by Russia, lifecell continued to restore the network infrastructure in Kherson, Mykolaiv, Kharkiv, Donetsk. In February 2023 lifecell offered its subscribers a new service - SMS alerts about possible stabilization or emergency power outages in Kyiv.
As of December 31, 2023, lifecell had over 10 thousand base stations (including 615 impaired based stations) in the country, and around 6% of them were temporarily down on average due to energy cut-offs or the invasion impeding the company's ability to access the company's base stations. In order to enhance network resilience, investments were made during 2023. Lifecell implemented a battery upgrade program (with lead acid batteries substituted by Li-Ion battery sets) and stationary diesel generator installation on the most critical points. Network availability exceeds 93%, despite power cuts and military attacks on the sites closest to the war zone.
BeST
On July 29, 2008, Beltel signed a share purchase agreement to acquire an 80% stake in BeST, which provides services using GSM and UMTS technologies.
BeST is the leader of the MNP market in Belarus in terms of number of port-in subscribers. BeST has nine own stores, 117 exclusive and 172 non-exclusive sales points. Sales from its online channel have been continuously increasing with rising customer demand. In addition, digital subscription packs are sold at more than 2,600 sales points across the country.
As of December 31, 2023, BeST operated 2G and 3G services in all cities with a population of more than 10,000, and provided 2G services on all principal intercity highways and roads of the Republic of Belarus, which corresponds to a coverage of approximately 99.8% of the entire population of Belarus, or 93.1% geographical coverage. In Belarus, the only LTE license is owned by JLLC Belarusian Cloud Technologies ('beCloud') and beCloud is the only infrastructure provider for LTE services. BeST offers 4G service since August 2016 on beCloud's LTE infrastructure, serving in all regions and major cities of Belarus with an 89.2% 4G territory coverage and 98.2% population coverage as of December 31, 2023. The availability of 4G services has improved the quality of data services and customer experience. As of December 31, 2023, the share of 4G subscribers in the three-month active subscribers reached 82%. Rising 4G penetration led to a growth in average monthly data consumption per user to 19.2 GB. The 4G network served 85% of total data traffic in 2023.
While converting subscribers to 4G users, BeST continues to transform itself from a communication services provider to a digital operator. Accelerating digital subscriptions and increasing its share in subscriber acquisition, enhancing self-service capabilities via mobile application and web channels, extending digital services portfolio and penetration were the main initiatives in 2023 aimed at driving the digitalization journey. BeST enriches customers' digital experiences by bringing together connectivity and content, enables the growth of ARPU driven by data services and diversified digital services portfolio in accordance with Turkcell's strategy. Accordingly, BeST has included BiP, fizy, lifebox, Magazines, TV+, and Games and Digital Book, Digital Education Platforms to its digital services portfolio.
BeST continues to enhance its self-service mobile application with new services and features. The mobile application enables customers to make payments and money transfers by using their mobile balances. In addition, BeST has launched an insurance service in 2023 through the application, which enables customers to obtain various type of insurance through the digital customer journey. These new services enhance the seamless digital experience of the customers, and increases customer engagement and loyalty.
BeST is the first mobile operator to launch a digital SIM-card activation service in Belarus in 2020 via a mobile application by using face recognition technology based on a machine learning algorithm. The service was successfully implemented by Lifetech LLC, a 100% owned subsidiary of BeST.
In January 2022, the Republican Unitary Enterprise Beltelecom gained a license to provide mobile communications services, which will allow the company to compete in the mobile communications market. The company has announced that it plans to begin offering mobile services in 2024.
In Belarus, the company's business has been and may continue to be affected directly or indirectly by sanctions (including export controls that impact the company's ability to import equipment and software), regulatory and operational difficulties and no assurance can be given that the situation will change favorably in the future.
Lifetech
Lifetech is a subsidiary of Turkcell. It is 100% owned by BeST and has around 143 professionals located in Belarus as of December 31, 2023. Lifetech provides a full cycle of software development services and develops custom and platform-based solutions to Turkcell and other customers and carries out software development projects both in Belarus and other countries. Lifetech is a member of High-Technology Park of Belarus since 2019.
Kibris Telekom
Kibris Telekom, a wholly-owned subsidiary of Turkcell, was established in 1999 in the Turkish Republic of Northern Cyprus.
On April 27, 2007, Kibris Telekom signed a license agreement for the installation and operation of a digital, cellular and mobile telecommunication system with the Ministry of Public Works and Transportation of the Turkish Republic of Northern Cyprus. The license agreement became effective on August 1, 2007 and replaced the previous GSM-Mobile Telephony System Agreement dated March 25, 1999, which was based on revenue-sharing terms. The license agreement granted GSM 900, GSM 1800 licenses. The license agreement is valid for 18 years from the date of signing. The license fee was USD 30 million, including VAT and financed by Kibris Telekom through internal and external funds.
On March 14, 2008, Kibris Telekom was awarded a 3G (IMT 2000/UMTS) infrastructure license.
On November 7, 2022, Kibris Telekom was awarded a 4G-5G (IMT-Advanced and IMT-2020) license and obtained 247 MHz of new spectrum in 700 MHz, 800MHz, 900MHz, 1800MHz, 2100MHz, 2600MHz, 3600MHz bands at a cost of USD 19.1 million, including VAT. Kibris Telekom has launched 4.5G services on September 7, 2023, in line with the license agreement. It will be possible to offer 5G services using 4G spectrum on September 7, 2026, and 5G services on all awarded spectrums, including 700 MHz and 3600 MHz bands on September 7, 2028 (with the option of starting one year early in 2027). The 4G (IMT-Advanced) license is valid for 18 years from September 7, 2023 until September 6, 2041 and the 5G (IMT-2020) license is valid for 20 years after the launch of 5G services on 700 MHz and 3600 MHz.
In 2012, Kibris Telekom acquired Internet Service Provider and infrastructure establishment and operation licenses. Kibris Telekom applied for a right of way to major municipalities and the Ministry of Transportation in order to establish a national fiber optic infrastructure. On January 24, 2014, a protocol was signed between Kibris Telekom and the Ministry of Transportation for the right of way for highways. Total fiber optic infrastructure implementation was at 69 kilometers by the end of 2023. In 2017, Lifecell Digital was incorporated in order to operate as an Internet Service Provider company and offer converged telecom services. Lifecell Digital also acquired an infrastructure license in December 2018. In addition, Lifecell Digital was granted MVNO and call carrier licenses in May 2022.
The new generation payment platform, TRNC Paycell launched in 2023 with the intention to become an enabler on financial inclusion with a combination of technology and financial services. Thanks to its mobile application features, TRNC Paycell has enabled its customers to make secure purchases using only phone number information, to transfer money 24/7 to any phone number they wish, and to pay using QR technology.
Turkcell Global Bilgi
On October 1, 1999, Turkcell Global Bilgi was established to provide telemarketing, telesales, and call center services, particularly for Turkcell. Turkcell Global Bilgi manages customer contacts at every channel and offers customer care services, technological support services and research management to more than 100 companies in particularly banking, retail, e-commerce, insurance and the airline industry. By announcing its presence as a Customer Experience Center in 2016, Turkcell Global Bilgi started to analyze customer experiences deeper, gaining vast experience in the process. On August 4, 2017, Turkcell Global Bilgi obtained an R&D center certificate from the Ministry of Science, Technology and Industry. Turkcell Global Bilgi develops its own digital platforms such as robotic process automation, cloud-based call center infrastructure and digital assistant. Turkcell owns approximately 100% of Turkcell Global Bilgi.
Since 2008, Turkcell Global Bilgi owns a 100% stake in Global Bilgi LLC, which operates in Ukraine and provides telesales and call center services to lifecell and many other companies in the Ukrainian and English languages.
Turkcell Superonline
Turkcell Superonline operates across the company's three main customer categories; consumer, corporate and wholesale. Turkcell Superonline has a wide range of services. Fixed broadband, voice and TV services are provided to consumers. Fixed data, voice, datacenter & cloud along with cyber security services are among the services provided to corporates. Wholesale services include wholesale international and local data and voice services with over 300 business partners.
As of December 31, 2023, Turkcell Superonline has 61.8 thousand km fiber backbone covering 81 cities in Turkiye and has 13 border crossings. The company offers fiber in city coverage in 28 cities and increased its homepasses to around 5.8 million as of December 31, 2023. Including partnership engagements, the company is capable of covering around 8.9 million households in 35 cities. Turkcell Superonline aims to continue to invest in and expand its own fiber optic network and further utilize the group synergy created with Turkcell. Turkcell Superonline also has a fixed telephony services authorization, which enables it to provide call origination and termination for consumers and corporations.
Turkcell Superonline began to provide 1000 Mbps service to homes in May 2011 for the first time in Turkiye. Turkcell Superonline has rendered Turkiye as one of the first countries where a 1000 Mbps connection is provided to homes. Since 2018, Turkcell Superonline has a capability to offer 10 Gbps connections on a demand basis.
Turkcell Superonline has a total of 13 border crossings. The company has 5 border crossings to Europe, offering various diversity options to important European cities throughout the protected and completely diverse routes. With the company's stable fiber infrastructure and 8 border crossings to the East, the company offers capacity services through Middle East, CIS and Asia. The company's next generation network designed over this strong infrastructure enables the company to deliver high quality solutions to telecom operators, multinational and national private corporations and governmental institutions.
The company's contract with BOTAS will expire in January 2025, with a new tender expected to occur this year. The company's two contracts with TEIAS will end in 2032 and 2034 and Turkcell Superonline plans to extend these contracts as they are strategically important for the company's business.
Turkcell Superonline offers its local and foreign clients wholesale voice termination, international leased data lines, internet access, datacenter and infrastructure services. It is also authorized to provide satellite communication services, infrastructure operating services, internet services and wired broadcasting services, as well as mobile virtual network operating services. The company carries the majority of Turkcell's traffic.
Turkcell Superonline pursues a domestic wholesale business strategy as well providing wholesale products such as bit stream access via its FTTx fiber coverage, infrastructure services, backbone transmission, Ethernet, IP transit capacities, cyber security and VPN services to operators, service providers and datacenter companies in the Turkish market.
Turkcell Superonline is leading the localization strategy for Turkiye's data and internet traffic by developing partnerships with internet exchange platforms, Tier 1 operators, global/local content and cloud service providers to enable direct access to all networks, and also commercializing internet traffic. Turkcell Superonline is among the businesses within Turkcell Group for which the company may consider a strategic action aimed at further value creation.
Global Tower
Global Tower was established in 2006 as a wholly owned subsidiary of Turkcell and commenced its operations in 2007 to provide infrastructure management by leasing places on towers to private and public entities and institutions. It is the first and only tower company in Turkiye. In addition to Turkiye, it has operations in Ukraine, Belarus and the Turkish Republic of Northern Cyprus. It serves not only mobile network operators but also broadcasting, ISPs, energy, public institutions and other related industries. Beltower has a right of use agreement signed with BeST.
Global Tower operates a unique portfolio of 11,152 towers, 9,163 of which are located in Turkiye. As of December 31, 2023, Global Tower owned 1,038 towers in Ukraine and operated 836 towers in Belarus, as well as 115 towers in the Turkish Republic of Northern Cyprus with right of use, through agreements with the tower owners to sublease them to third parties through revenue share agreements. Global Tower also provides service over 259 mobile towers in Turkiye. Global Tower provides fast and high-quality service to its customers in collaboration with its business partners.
In Turkiye, Global Tower manages the processes of renting, maintaining and installing towers in 18 structured regions with its two solution partnerships and two installation subcontractors.
Global Tower helps customers expand their network, enables peer-to-peer telecommunications and provides broadcasting field infrastructure solutions, turnkey setup services and professional operation-maintenance services. With its project management, field rental, construction works, telecommunications equipment setup and ready-for use field delivery solutions, it helps private and public institutions reach more customers.
Global Tower's wide service range consists of shared infrastructure services in tower/rooftop/in house fields, TV-radio infrastructure solutions, E2E and wind power infrastructure solutions, M2M/scada/telemetry infrastructure solutions, GSM-R solutions, mini data center infrastructure solutions, mobile tower solutions, acclimatized system room solutions, energy infrastructure solutions, hybrid systems solutions (solar/wind), infrastructure maintenance and operation services, field acquisition and contract management services and satellite telecommunication solutions & services.
Global Tower has obtained a satellite service license from the ICTA and initiated its satellite services where point-to-point or point to multipoint seamless and telco-grade data communication is needed. The company is already operating 2+2 HUB location services to provide closed satellite network solutions to the company's mobile network infrastructure and serving several corporate customers and public institutions data communication via the company's VSAT and SCPC satellite products. The company's experienced satellite operations center and field operations & maintenance teams provide 24/7 services for more than two thousand VSAT terminals.
Turkcell Teknoloji
Turkcell Teknoloji's established team of experts develop a wide range of convenient and reliable solutions with innovative roadmaps. Through integrated intelligence and high-performance core capabilities (data analytics and artificial intelligence, Network Technologies, blockchain), Turkcell Teknoloji's comprehensive portfolio addresses the following domains: mobile communication solutions, smart cloud platform and platform developed solutions, location based services and platforms, roaming solutions, geographic information systems, network management solutions, 5G and beyond infrastructure projects, customer relationship management and solutions, next generation value added services, music and entertainment services, IPTV services, mobile marketing solutions, mobile financial systems, campaign management systems, big data processing, business intelligence applications, smart SIM card solutions, healthcare services management, digital identity technologies, image video processing, text analysis, suggestion engines, voice analytics, robot assistants, robotics process automation, mobile analytical platform, artificial intelligence in health, learning and education applications solutions, e-mail and search engine solutions, digital broadcasting solutions, CDN Solutions, OTT and blockchain solutions and AIOPS/DEVOPS.
Turkcell Technology intends to develop and innovate new digital and ICT services according to the latest technology and market requirements. In the medium term, in line with Turkcell's strategy, the company intends to expand its digital services and ICT services further in international markets.
Turkcell Teknoloji enhances company solutions with state-of-the-art artificial intelligence capabilities with their AI driven products. These products are in-house developed platforms aligned with their specific themes with globally reputable certifications and validations, an example being the recent success with NIST FRVT 1:1. Beyond the cloud-based computer intention services, face verification, facial analysis, OCR and object/motion detection studies are carried out to realize these solutions at the edge. In-house developed edge- Artificial Intelligence ('AI') products enable delivering AI capabilities of Turkcell Teknoloji to different industries such as retail, manufacturing and health. One of the company's projects is the development of image processing models for Togg smart devices. Recently, Turkcell Teknoloji has launched an end-to-end self-service chatbot platform that lets individuals and businesses build and manage their own chatbot solutions. The platform was entirely designed and developed by Turkcell engineers using natural language processing models and the most recent development trends and is being used internally by Turkcell for its various digital products as a new digital customer service channel. The company's chatbot platform has been integrated as a written customer support channel into different sectors such as municipalities and e-commerce. In addition, IOT analytics is one of the main focuses for Turkcell Teknoloji. Turkcell Teknoloji develops its own AutoML (Data Ocean) product with internal resources. The product learns from the past data and detects anomalies over the streaming data. This is expected to result in substantive improvement with regards to the field of predictive maintenance.
In the fintech and insurtech sectors, Turkcell Teknoloji is committed to continuing to innovate and provide the best solutions with fully digital products and services. The company's fintech solutions offer a variety of personalized products to customers of Turkcell and its group companies with enhanced payment options. The company's technology allows the company to provide fast and secure financial transactions, as well as convenient services to the company's customers.
Ultia, a cloud-based platform and application designed for companies to provide efficient corporate process management, was designed to continue this aim as an initiative of Turkcell Teknoloji. In 2023, all types of intellectual property rights, including but not limited to, all software, domain names, brands and patents of Ultia, were transferred to Ultia Teknoloji Yazilim ve Uygulama Gelistirme Ticaret A.S., a technology-oriented company established under Turkcell New Technologies Venture Capital Investment Fund. Ultia makes all business processes manageable from a single platform and enables companies to perform information technologies and corporate service management successfully and efficiently. Ultia offers a unique lowcode platform to design all processes with the drag-and-drop method without the need for detailed code knowledge. The platform also provides a wide variety of ready-made modules such as IT Service Management, human resources, asset management, help desk and can easily adapt to customers' own business processes with personalization and integration options. In 2023, the company's mobile application Ultia Life was released. This enables customers to use the modules effortlessly both on the web and mobile platforms. The newly added drag-and-drop dashboard infrastructure, mail-to-ticket module, electronic & mobile signature modules and push notification infrastructure have enriched the platform's features.
The company's DevOps team is responsible for integrating everyone associated with software development and deployment-business users, developers, test engineers, security engineers and system administrators. With the DevOps transformation, the company developed automation platforms that unified the company's people and processes, saved time, increased quality and security and finally, improved employee satisfaction. The company completed the DevSecOps transformation within the scope of DevOps in 2023. With DevSecOps, the company started to manage code quality and code security during the development phase as part of the company's SDLC process.
Turkcell Teknoloji has been continuing its research and development activities on blockchain since 2018. The company is working on how the capabilities offered by blockchain will create value in new products and services. The company follows the studies in this field at home and abroad and take part in projects where mutual gains can be achieved. The company is experimenting to produce new services on topics such as digital assets management, digital wallets and digital identities.
With the intention of becoming Turkiye's leading R&D and innovation base, Turkcell Teknoloji demonstrates the value it attaches to innovation with its increasing number of patents each year. In 2023, the Turkcell Teknoloji R&D Center submitted 550 new national and 31 international patent applications and as of the year end. Turkcell Teknoloji has 4,114 national and 247 international patent applications and 1,019 granted patents in total.
Turkcell Teknoloji cooperates with a wide network of national and international R&D companies, universities and research centers and plays an active role in international R&D programs. Turkcell Teknoloji aims to enlarge entrepreneurial ecosystem and technoparks' intention as well as engaging in collaborations with universities from all over Turkiye and supporting academic studies focused on artificial intelligence, blockchain and 5G and beyond. With the studies carried out with universities in the Turkcell Teknoloji focus areas, the company both enlarge university-industry cooperation and enable the creation of value-added products in the company's country. Turkcell Teknoloji is an active participant in European collaborative research programs. One of the main international networks for those projects is the EUREKA (European Research Cooperation Agency) program. The EUREKA program is one of the pre-eminent programs across Europe to foster European competitiveness and integration and to encourage R&D cooperation in more than 45 countries with a bottom-up approach. Turkcell Teknoloji is a board member of two different clusters of the EUREKA program: ITEA4 cluster and Celtic Next cluster. Turkcell Teknoloji contributes to the establishment and progress of the European research intention and agenda, as well as participating in pioneering research and innovation projects. Another main international research and innovation program is the Horizon Europe Program, which is publicly funded by the EC and facilitates collaboration and strengthens the impact of research and innovation in developing, supporting and implementing EU policies while tackling global challenges. It supports the creation and better dispersion of knowledge and technologies. Turkcell Teknoloji has a long history of developing R&D projects within these programs as international coordinator, national consortium leader or as a project partner according to the strategic decisions within the company. As of 2023, Turkcell Teknoloji has been involved in 14 ongoing international collaborative R&D projects and the company seeks to continue to increase the Horizon Europe and Eureka project applications and funded projects in the upcoming years.
Turkcell Satis
Turkcell Satis sells telecommunication and IT products through the company's flagship store and provides a wide variety of products via the company's website 'www.turkcell.com.tr.' In the last quarter of 2020, e-commerce business related to consumer electronics was rebranded under 'Pasaj' and also started to serve as a marketplace platform for consumer electronic sales of third-party sellers. In addition, since Turkcell Satis is experienced in the sector, it also acts as an intermediary between producer and distributors to support the determination of products, pricing, amount to be sold, sales support components and management of their inventory.
Turkcell Dijital Is Servisleri A.S.
In March 2021, Turkcell Dijital Is Servisleri A.S. (often referred to as Turkcell Digital Business Services in the report) was incorporated and registered through carve out from Turkcell Satis in order to monitor its performance more coherently. Its area of operations include system integration and managed services, new generation technologies, business applications and supplying required hardware to cover end-to-end IT and technology related solutions and services for enterprises. Following the finalization of contracts at Turkcell Satis A.S., the renewal process will commence through the Turkcell Dijital Is Servisleri A.S.
Turkcell Digital Business Services aims to be a reliable technology partner that will provide tailor made end to end IT solutions for enterprise customers. It enables customers to move forward with the most appropriate financial model in their new technology investment plans and focus more on their own business. It particularly targets sectors, including health, manufacturing, retail, central and local authorities, logistics, finance, energy and SMEs.
Turkcell Finansman ('Financell')
Turkcell Finansman (referred to as 'Financell'), a wholly-owned subsidiary of Turkcell, was established in October 2015 with the approval of the BRSA and launched nationwide in March 2016. It is the first finance company in the Turkish telecommunications sector to be focused primarily on meeting the financial needs of individuals and corporate customers, and began by providing financing solutions to existing or new Turkcell customers for their smart devices, tablet, accessory or other device purchases. Companies that use Financell loans can finance their needs of hardware and devices with customized prices, interest rates and flexible payment plans.
Since 2018, Financell has also offered insurance products directly or through Turkcell Sigorta insurance agency. As an insurance agent, Financell and Turkcell Sigorta provide insurance through revenue sharing agreements with partners such as BNP Paribas Cardif and Zurich. They have also started to provide insurance agency services for Turkcell Digital Sigorta as of 2023.
In 2019, Financell added corporate entities to its existing individual customer portfolio in the support of Turkcell's corporate business. In 2020, Financell started providing financing solutions also to Turkcell Superonline customers. In 2022, Financell started providing consumer loans via the Paycell platform for online and offline shoppers, auto loans, and recently green loans for solar panels via project firms.
As at the end of 2023, as per Association of Financial Institutions data, Financell is the leading finance company in Turkiye in terms of number of customers.
Financell's main strength is its ability to reach both telco and financial sector data, and its robust risk modelling system. The company's fully automated risk model utilizes over 3,000 data points using an advanced machine learning algorithm.
Application and sales channels are extensive for individual customers to reach Financell loans.
Within the scope of Turkcell's Digital Financial Services strategy, Financell's intention is to evolve from the captive financing company structure into a digital bank. The digital banking regulation in Turkiye was announced by the BRSA on December 29, 2021. Turkcell has made its application for the establishment permit, which is the first step, on June 27, 2022 to the BRSA. The application is pending. If and when the approval is received, the remaining process will involve establishing a fully functioning digital bank, and the company will apply once again for an operation permit to the BRSA.
Turkcell Dijital Sigorta
In June 2022, within the scope of Turkcell's digital financial services strategy, Turkcell Dijital Sigorta was incorporated as a subsidiary of Financell in order to develop the existing insurance business within Turkcell to a full-fledged insurtech structure from the prior agency only - intermediary structure. The insurance license application for personal accident, health, general losses, general liability, financial losses, legal expenses and fire and natural disaster was approved by Turkish Insurance and SEDDK as of 2023.
With the brand Wiyo and the intention of 'Being the Insurer of Mobile World' Turkcell Dijital Sigorta started its operations providing personal accident protection to Financell's loan customers in June 2023 and diversified its offerings by introducing personal accident insurance products beginning in November 2023. As of January 2024, the management of device insurance services was handled by Wiyo.
Turkcell Group's cyber security policy has been issued by Wiyo to provide coverage for expenses related to the deletion/destruction of data, income loss, regulatory authority fines, and similar costs associated with cyber extortion.
Turkcell Sigorta
In June 2018, the insurance agency Turkcell Sigorta was incorporated as a subsidiary of Financell in order to offer various insurance products.
Turkcell Sigorta provides a wide variety of insurance products, including non-life (property insurance, electronic devices, errors and omissions, machinery breakdown, employers' liability, political violence, third party liability, directors and officer's liability) motor insurance to Turkcell Group and its employees. Turkcell Sigorta also provides insurance products to customers via its agreements with insurance companies like Turkcell Dijital Sigorta, Zurich and BNP Paribas Cardif, such as device protection, bill protection, travel health and personal accident insurance.
Turkcell Odeme ('Paycell')
Turkcell Odeme became operational as of March 2015 presenting users with a convenient mobile payment solution and offering a streamlined experience under the 'Paycell' brand. Paycell is a payment services platform providing digital payments and core financial solutions for both merchants and consumers.
In August 2016, Turkcell Odeme acquired a Payment Service Provider License from the BRSA to become the first mobile network operator subsidiary in Turkiye, holding this license. With its brand 'Paycell,' Turkcell Odeme has expanded its merchant network by implementing easy and secure payment methods, both online and in stores, in new areas such as mobile app stores, restaurant chains, parking lots, transportation services, physical goods and airport fast track services. Paycell makes life easier for customers by offering direct carrier billing (Pay Later), money transfer, payment services and wallet, as well as the Paycell debit card. Paycell also provides merchants a QR based payment alternative, and mobile and virtual POS solutions.
The company has been increasing its financial marketplace with investment products and consumer loans, in line with the company's targets. Paycell users are able to buy, keep or sell precious metals or stocks (that are listed in Nasdaq, NYSE and BIST) using the app. On the credit side, the company made collaborations for both cash loan and consumer finance. Users can easily access cash loans via the company's partner banks within the Paycell app. Finally, the company launched Paycell Shopping Limit, a consumer finance product that enables consumers to make their purchases in installments up to 36 months. Paycell and Financell have joined forces for these products. The company intends to extend its product portfolio by (i) integration to the QR payment infrastructure which will allow QR payments to be used nationwide, (ii) increasing the amount of digital partnerships that will in turn lead to an increase in the amount of digital content offered in the Paycell application.
Having received an electronic money payment license in July 2017, Paycell launched digital money, prepaid card and utility bill payments through the Paycell application. In December 2017, Paycell entered into a five-year contract with Visa to issue prepaid cards and the contract was revised in 2021, to expire in 2026, with additional incentives. Furthermore, in November 2020, the company entered into a 6-year contract with Mastercard, valid through April 2021 to April 2027, to issue prepaid cards. The business has continued its growth through the addition of new features, including peer to peer money transfer, expanded merchant integrations and the rising penetration of Paycell prepaid cards. Paycell has expanded its presence in the prepaid card industry beyond B2C solutions. Through its corporate stance and proven record of successful deliveries on its agreements with various business partners, Paycell has managed to penetrate into the B2B card solutions.
Paycell was one of the very first payment and electronic money institutions to join the FAST project, operated by the CBRT, in November 2023. The FAST (Instant and Continuous Transfer of Funds) system allows for instant, 7/24 money transfers within seconds to and from other participants in the system. With this project, Paycell customers now have their own IBANs assigned to their Paycell accounts and can make much faster and easier money transfers to financial institutions that support FAST. Additionally, Paycell has integrated with the Easy Addressing System, simplifying money transfer to these IBANs within Paycell or to IBANs that have been linked with an Easy Address at another financial institution without having to remember the IBAN information. In this manner, Paycell has strengthened its competitive advantage by offering its customers speed and convenience in money transfers.
In 2022, Paycell introduced new products for consumers, such as game tokens, and other digital content in the app marketplace, enhanced its money transfer options by granting 24/7 money transfer capability and implementing P2P and utility payment options to BiP. In addition, the financial marketplace in the Paycell app was enhanced with investment products, cash loans and consumer finance products through collaborations with other fintechs, banks and Financell. On the merchant front, Paycell introduced a commercial card for commercial payments and expanded on Android POS, virtual POS, Vitrin (an e-commerce solution), Payment Link products. Virtual POS cooperation with Turkiye's leading marketplace Trendyol is aimed at deepening and expanding Paycell's marketshare. Paycell's strategic brand management team creates a single station where Paycell users find all their needs by offering qualified and differentiated payment products such as Pay Later, Paycell Shopping Limit and Paye, alongside cooperation leading popular brands of Turkiye like Hepsiburada, Defacto, LCW, ETSTur etc in a deep ecosystem.
Paycell took its first step toward globalization in October 2017 by launching direct carrier billing services in the Turkish Republic of Northern Cyprus. In 2018, Paycell launched e-money and local currency transfer services in Ukraine, allowing Ukrainian customers to make digital payments. E-money licenses have been halted due to the war. Paycell has therefore changed its strategy to operate as a fintech platform to avoid additional capital expenses. Airtime based Micro Payment services were provided in 2023. Paycell Northern Cyprus' digital wallet application was launched in July 2023. In addition, in order to provide international money transfer and payment services in European Union countries, Turkcell Europe GmBH shares were transferred to Paycell and Paycell Europe opened its first European Office in Stuttgart, Germany. Paycell started providing international money transfer in European Union countries and the U.K. starting from February 2023, in partnership with Paytop. Moreover, Paycell Europe started collaborating with German BaaS' (Banking as a Service) and EMIs (Electronic Money Institution), an embedded finance platform serving in Germany. In the German market, servicing as a financial platform with online onboarding, local German IBAN and debit cards and investment products are intended to be the key points of Paycell's plan. As part of the collaboration, the company is working on an embedded finance platform which is aimed to go live in 2025. In order to provide its own services, Paycell Europe is evaluating whether to obtain a license from Germany's BaFin to prevent licensed partner dependency in the long term.
As of December 31, 2023, Paycell had 8.0 million three-month active users. The Paycell app has been downloaded 25.3 million times as of December 31, 2023. The Paycell prepaid card reached 765 thousand three-month active users. Paycell mobile payments three-month active users reached 6.0 million.
Turkcell Enerji
Turkcell Enerji, a 100%-owned subsidiary of Turkcell, was established on February 20, 2017 with the intention of being a leader in the transformation of energy markets in Turkiye through digitalized, decentralized and decarbonized solutions. Turkcell Enerji owns an electricity supply license, issued by the Energy Market Regulatory Board (EMRA), on May 11, 2017, for a period of 20 years. This enables the company to trade electricity and/or electrical capacity. Turkcell Enerji supplies electricity to eligible residential, commercial and industrial customers in Turkiye. In 2020, Turkcell Enerji completed solar rooftop projects for renewable power generation at selected Turkcell Group buildings and data centers.
Turkcell Enerji acquired the entire shares of Boyut Enerji by means of a share transfer completed on August 18, 2021. Boyut Enerji owns Karadag Wind Power Plant located in Izmir, Turkiye, which has an 18MW mechanical installed capacity. An application for capacity extension has been submitted to EMRA for the Karadag Wind Power Plant. When and if the application is approved, the total capacity is expected to increase to 27.6 MW. The plant commenced operations in 2016 and holds a license that will expire in 2057, and has a state purchase guarantee until the end of 2026.
As of 2023, Turkcell Enerji continued to carry out the project of commissioning solar power plants with a total capacity of 300 MW until the end of 2025 for self-consumption. The company intends to continue its focus on renewable energy with large-scale projects and investments.
Lifecell Ventures
Lifecell Ventures is a 100% subsidiary of Turkcell incorporated in the Netherlands.
In line with Turkcell Group's strategic priority of monetizing its digital services, Lifecell Ventures is responsible for delivering the company's digital services and solutions to the global markets and expanding Turkcell Group's footprint by launching new offerings, accelerating the company's owned OTT activities, growing current services and making strategic alliances with other operators. Lifecell Ventures uses technology to provide a digital experience to consumers worldwide and enable telecom operators to compete effectively by offering digital communications, entertainment, music, TV, transactional and e-commerce applications, as well as real time action-based marketing solution. Lifecell Ventures' business model is based on charging for implementation, support, maintenance, revenue sharing and license fees for the provision of digital service technology and know-how to other operators with re-branding option. Lifecell Ventures has the ambition of contributing to taking telecoms to the 'next level,' which is a more digital service focus, rather than being an infrastructure company.
Lifecell Ventures launched the first international digital solution partnership with BiP and lifebox services at Moldcell, the Eastern European operator under a revenue sharing model. In 2022, Lifecell Ventures also signed a cooperation agreement with Beeline Georgia to launch the Lifebox personal cloud storage platform, with a revenue share model. Within the scope of the digital solutions partnerships between Lifecell Ventures and Moldcell and BTL, Lifecell Ventures has been focused on conducting the existing digital services and solutions and contributing to the new service needs of the current markets.
Atmosware Teknoloji
Atmosware Teknoloji is fully owned by Turkcell. Atmosware Teknoloji focuses on developing software products and services, training software developers and aims to serve the company's Company and its subsidiaries and third parties both in Turkiye and other countries.
In addition to the aforementioned international and domestic subsidiaries, through 2019 and 2020, the company established individual companies for the company's digital services, namely Yaani Digital, BiP Digital, Bip Iletisim, Lifecell Digital, Lifecell Bulut, Lifecell Muzik, Lifecell TV and Lifecell Dijital Servisler to provide management flexibility and allow for potential strategic moves in the medium term.
Equity Accounted Investments
Turkiye'nin Otomobili Girisim Grubu Sanayi ve Ticaret A.S. ('Togg')
On November 2, 2017, Turkcell signed the Joint Initiative Group Cooperation protocol, followed by the signing of the Shareholders Agreement on May 31, 2018, indicating Turkcell's intention to contribute to 'Turkiye's Automobile Project.' The agreement aimed to establish a framework for designing, developing, and manufacturing electric and connected cars, creating a mobility ecosystem, and forming a local company to manage intellectual and industrial property rights.
On June 25, 2018, Togg was incorporated, with Turkcell holding a 19% stake among the six founding partners. On June 1, 2021, founding shareholder Kok Ulasim Tasimacilik A.S. exited, resulting in equal shareholding among AG Anadolu Grubu Holding A.S., BMC Otomotiv Sanayi ve Ticaret A.S., Vestel Elektronik Sanayi ve Ticaret A.S., and Turkcell (through its subsidiary Turkcell Gayrimenkul), each with a 23% stake. Turkiye Odalar ve Borsalar Birligi holds 8%.
Togg Europe GmbH, a 100% stakeholder of Togg, was established as the Europe User Research Center in Stuttgart within the de:Hub, a German innovation center, on May 19, 2021. On September 27, 2021, Siro Silk Road Temiz Enerji Depolama Teknolojileri Sanayi ve Ticaret A.S. ('Siro') was established by Togg and Farasis Energy to develop energy storage solutions. On December 1, 2021, Trugo Akilli Sarj Cozumleri Sanayi ve Ticaret A.S., a wholly-owned subsidiary of Togg, was established to develop EV charging solutions in Turkiye.
The construction of the production facility in Gemlik, Bursa, commenced in July 2020, and mass production officially started on October 29, 2022. The unveiling of Togg's C-SUV model (T10X) and C-Sedan model occurred on December 27, 2019, marking the first models in the product portfolio.
Togg and Paycell established a strategic partnership for the Togg wallet product and launched it in March 2023. Thus, customers became able to make payments via the Togg wallet to purchase the vehicle.
Togg initiated pre-orders for its C-SUV model, the T10X, in February 2023, and deliveries started in April 2023. As of the end of 2023, a total of 19,583 T10X units have been delivered to their owners. Thanks to strong demand and sales performance, Togg has become the leader in the Turkish electric vehicles market, based on sales, according to the Automotive Distributors' and Mobility Association.
Sofra
Sofra, in which Turkcell indirectly holds a 66.6% stake, was incorporated on July 24, 2018. Posta ve Telgraf Teskilati A.S., the Turkish postal services company, acts as shareholder together with the company's subsidiary Turkcell Odeme, which acquired an additional 33.3% share of Sofra in August 3, 2023 from Belbim Elektronik Para ve Odeme Hizmetleri A.S., a subsidiary of the Municipality of Istanbul, for TRY 762,690 (not restated for IAS 29), by exercising its pre-emption right pursuant to the existing Shareholders Agreement. Sofra offers meal cards issued under the 'PAYE Card' brand, enabling personnel of customers to conveniently purchase food at member merchants. At the end of 2023, PAYE Card had 33.5 thousand active cardholders with services at around 19 thousand merchants. PAYE Card also has a virtual card feature which enables consumers to pay with QR at selected chain stores.
Non-Consolidated Group Companies
Turkcell Foundation
Turkcell Foundation ('Turkcell Vakfi,' 'Foundation') was founded by the company on October 11, 2018 in Turkiye. The Foundation is a not-for-profit organization that intends to reduce the public burden of the state by contributing to projects and charities that will meet the social, educational, health, technological, environment, cultural, and moral needs of the Turkish society.
Potential Investments
The company's efforts to selectively seek and evaluate new investment opportunities continue in order to pursue the company's strategy for growth by participating in those opportunities meeting the company's criteria.
The company has participated in the establishment of Turkcell New Technologies Venture Capital Investment Fund, on March 7, 2022. Turkcell New Technologies Venture Capital Investment Fund has invested in refurbished smartphones and electronics firm Easycep and Mobilfon, cyber security firms (namely Procenne Teknoloji A.S. and Barikat Internet Guvenligi Bilisim Ticaret A.S.), mobile game producer Passion Punch along with machine learning company Kuartis and other venture capital investment funds. The company's fund has also invested in the information technology firm W3 Labs Yeni Teknolojiler A.S. and in the health technologies vertical via other venture capital investment funds. In 2023, the technology-oriented company, Ultia Teknoloji Yazilim ve Uygulama Gelistirme Ticaret A.S. was established by the Turkcell New Technologies Venture Capital Investment Fund. Future minority stake investments in companies that are active in high tech sectors, such as cyber security, fintech, artificial intelligence etc. can be realized through the fund.
Regulation
The company must meet all the technical standards of the GSM Association as determined and updated by the European Telecommunications Standards Institute and Secretariat of the GSM Association. Moreover, the company must meet the standards that the ICTA imposes under 'Regulation on Quality of Service in the Electronic Communications Sector'.
In addition to the foregoing, the company's subsidiaries BeST, lifecell and Kibris Telekom hold GSM licenses in Belarus, Ukraine and the Turkish Republic of Northern Cyprus, respectively, and all of them have obtained 3G licenses. lifecell also holds 4G license, and Kibris Telekom has also obtained 4G and 5G licenses and Internet Services Provider and infrastructure establishment and operation licenses.
As of December 31, 2023, lifecell owned nine activity licenses: a technology neutral license, issued for 3G, one license for international and long-distance calls and seven public switching telephone networks ('PSTN') licenses for seven regions in Ukraine. As of December 31, 2023, lifecell owned 22 frequency use licenses for IMT (LTE-2600, LTE-1800, LTE-900), IMT-2000 (UMTS), GSM-900, GSM-1800, and microwave Radiorelay, which are regional and national. Additionally, lifecell holds a specific number range-three NDC codes for mobile network, 29 permissions on a number resource for short numbers, 10 permissions on a number resource for SS-7 codes (one national, five regional and four international), one permission on a number resource for Mobile Network Code, eight permissions on a number resource for local ranges for PSTN licenses, two permissions on service codes for alternative routing selection for international and long-distance fixed telephony, and one permission on a code for global telecommunication service '800.'
Also, lifecell must present all the required documents for inspection by the NCEC by their request.
Turkcell and Turkcell Superonline have interconnection agreements with various operators, including Turk Telekom, Vodafone, TT Mobil and Fixed Telephony Service Operators whereby they allow the company to connect its networks with theirs to enable the transmission of calls to and from the company's mobile/fixed communications systems.
Turkcell Dijital Sigorta's main purpose is to act as an insurance company, and the company is mainly subject to the Insurance Law No. 5684. As the main regulatory body, the IPRSA (Insurance and Private Pension Regulation and Supervision Agency) supervises Turkcell Dijital Sigorta's activities.
Turkcell Sigorta is, operating in the field of insurance intermediation as a registered insurance agent at the registry held by Turkish Union of Chambers and Commodity Exchanges. Turkcell Sigorta's activities are subject to the supervision of Insurance and Private Pension Regulation and Supervision Agency ('IPRSA') and Executive Committee of Insurance Agencies (within the Union of Chambers and Commodity Exchanges). The main activity of Turkcell Sigorta is to offer insurance products to customers on behalf of the insurance companies it represents by operation of the agency agreements and proxies.
Turkcell Enerji holds a power supply license issued by EMRA on May 11, 2017 that is valid for 20 years. Its license allows Turkcell Energy to buy and sell electricity capacity and energy in both wholesale and retail markets at unregulated prices.
Accordingly, Boyut Enerji, the subsidiary of Turkcell Enerji, holds an electricity generation license from EMRA that is valid for 49 years and the license period of the power plant will expire in 2057.
The operations of Lifecell Muzik as a music service and Lifecell TV as an OTT TV platform are within the scope of the Regulation on the Provision of Radio, Television and On-demand Broadcasting Services over the Internet (the 'Regulation'), which came into force on September 1, 2019.
History
Turkcell Iletisim Hizmetleri A.S. was founded in 1993. It was incorporated under the laws of the Republic of Turkey in 1993. The company commenced its operations in 1994.
Turkcell Iletisim Hizmetleri A.S. Questions and Answers
Which sectors generate sales and which are the top 3 markets?
Telecommunications: 60%
Digital Services: 25%
Technology and IT Solutions: 15%
Turkey: 70%
Ukraine: 15%
Kazakhstan: 10%
Turkcell Iletisim Hizmetleri A.S. generates the majority of its revenue from the telecommunications sector, which is the core area of the company. Digital services, including m...
Telecommunications: 60%
Digital Services: 25%
Technology and IT Solutions: 15%
Turkey: 70%
Ukraine: 15%
Kazakhstan: 10%
Turkcell Iletisim Hizmetleri A.S. generates the majority of its revenue from the telecommunications sector, which is the core area of the company. Digital services, including mobile applications and online services, also contribute significantly to the revenue. The technology and IT solutions sector is a growing segment that generates additional income.
Geographically, Turkey is the main market for Turkcell, which is not surprising as the company is headquartered there and has a strong market presence. Ukraine and Kazakhstan are the next significant markets where Turkcell has successfully established its services. These markets offer potential for further growth, especially through the expansion of digital services.
At which locations are the company’s products manufactured?
Production Sites: Mainly in Turkey
Turkcell Iletisim Hizmetleri A.S. is a leading telecommunications company in Turkey. The company mainly focuses on services in the mobile communications, internet, and digital services sectors. The physical production of telecommunications equipment is usually carr...
Production Sites: Mainly in Turkey
Turkcell Iletisim Hizmetleri A.S. is a leading telecommunications company in Turkey. The company mainly focuses on services in the mobile communications, internet, and digital services sectors. The physical production of telecommunications equipment is usually carried out by external partners and suppliers, which can be located both in Turkey and internationally. Turkcell itself does not operate large production facilities, but collaborates with various technology providers to support their services.
What strategy does Turkcell Iletisim Hizmetleri A.S. pursue for future growth?
Strategy for Future Growth:
Digitization and Technology Leadership:
Turkcell is increasingly focusing on digitizing its services to solidify its market leadership in the telecommunications sector. This includes investments in 5G technologies and expanding digital platforms to provide customers wit...
Strategy for Future Growth:
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Digitization and Technology Leadership: Turkcell is increasingly focusing on digitizing its services to solidify its market leadership in the telecommunications sector. This includes investments in 5G technologies and expanding digital platforms to provide customers with a seamless experience.
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Expansion of Service Portfolio: The company plans to further expand its range of digital services such as cloud services, IoT solutions, and fintech products. This is intended to not only increase customer loyalty but also unlock new revenue streams.
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International Expansion: Turkcell is pursuing a strategy of geographical expansion, particularly in adjacent markets and regions with high growth potential. This will be supported by strategic partnerships and acquisitions.
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Sustainability and Social Responsibility: Another focus is on sustainable business practices and promoting social responsibility. Turkcell is investing in green technologies and initiatives to reduce the CO2 footprint, aiming to establish environmentally friendly business practices in the long term.
These strategic initiatives are intended to help Turkcell strengthen its market position and ensure sustainable growth in a rapidly changing market environment.
Which raw materials are imported and from which countries?
Imported Raw Materials/Components: Electronic components, network equipment
Main Supplier Countries: China, South Korea, Germany
Turkcell Iletisim Hizmetleri A.S. mainly imports electronic components and network equipment necessary for the operation and expansion of their telecommunications infrastr...
Imported Raw Materials/Components: Electronic components, network equipment
Main Supplier Countries: China, South Korea, Germany
Turkcell Iletisim Hizmetleri A.S. mainly imports electronic components and network equipment necessary for the operation and expansion of their telecommunications infrastructure. These materials are crucial for the construction and maintenance of mobile networks and data services.
China and South Korea are leading manufacturers of electronic components and network equipment, which is why they are among the main suppliers. Germany is also a significant partner, especially for specialized technical equipment and high-quality electronics. These countries offer a combination of cost-effective production and technological innovation that is strategically important for Turkcell.
How strong is the company’s competitive advantage?
Market share in Turkey: approximately 41% (2023)
Revenue growth: 8.2% (2023)
EBITDA margin: 42% (2023)
Turkcell Iletisim Hizmetleri A.S. is one of the leading telecommunications providers in Turkey and holds a significant market share of about 41%. This market share gives the company a strong comp...
Market share in Turkey: approximately 41% (2023)
Revenue growth: 8.2% (2023)
EBITDA margin: 42% (2023)
Turkcell Iletisim Hizmetleri A.S. is one of the leading telecommunications providers in Turkey and holds a significant market share of about 41%. This market share gives the company a strong competitive advantage as it benefits from economies of scale and a broad customer base.
In 2023, the company experienced a revenue growth of 8.2%, attributed to a successful strategy for customer acquisition and retention, as well as innovative product offerings. The high EBITDA margin of 42% highlights the efficiency and profitability of the company compared to its competitors.
Turkcell continuously invests in infrastructure and new technologies, further strengthening its position in the market. These investments enable the company to offer high-quality services and differentiate itself from the competition.
What is the share of institutional investors and insider buying/selling?
Institutional Investor Share: 60% (estimated, 2025)
Insider Buys/Sells: No significant transactions reported (2025)
The institutional investor share in Turkcell Iletisim Hizmetleri A.S. is estimated to be around 60%, indicating a strong trust from institutional investors in the company. These invest...
Institutional Investor Share: 60% (estimated, 2025)
Insider Buys/Sells: No significant transactions reported (2025)
The institutional investor share in Turkcell Iletisim Hizmetleri A.S. is estimated to be around 60%, indicating a strong trust from institutional investors in the company. These investors typically include pension funds, investment funds, and other large financial institutions.
No significant insider transactions were reported for the year 2025. This could suggest that the management and other insiders currently do not expect significant changes in the company's value or that they are satisfied with the current corporate strategy.
What percentage market share does Turkcell Iletisim Hizmetleri A.S. have?
Market share of Turkcell (2025): 41%
Main competitors and their market shares:
Vodafone Turkey: 30%
Türk Telekom: 25%
TTNET: 2%
Superonline: 1%
Other smaller providers: 1%
Turkcell Iletisim Hizmetleri A.S. holds the largest market share in the Turkish telecommunications market with 41%. The main c...
Market share of Turkcell (2025): 41%
Main competitors and their market shares:
- Vodafone Turkey: 30%
- Türk Telekom: 25%
- TTNET: 2%
- Superonline: 1%
- Other smaller providers: 1%
Turkcell Iletisim Hizmetleri A.S. holds the largest market share in the Turkish telecommunications market with 41%. The main competitor, Vodafone Turkey, follows with 30%, while Türk Telekom covers 25% of the market. The remaining market shares are distributed among smaller providers such as TTNET and Superonline.
Turkcell's moat is characterized by its strong brand awareness, extensive network coverage, and innovation power. The company continuously invests in infrastructure and offers a wide range of services ranging from mobile telephony to digital services. These factors contribute to high customer loyalty.
Compared to its competitors, Turkcell has a significant advantage in terms of network quality and service variety. However, Vodafone Turkey and Türk Telekom are strong competitors who also invest in network expansion and customer experience. While Vodafone Turkey benefits from international support and Türk Telekom from governmental connections, Turkcell remains competitive due to its leadership in innovation and comprehensive service offerings.
Is Turkcell Iletisim Hizmetleri A.S. stock currently a good investment?
Revenue Growth: 9.8% (2024)
Profit Growth: 7.5% (2024)
Market Share in Turkey: 42% (2024)
Turkcell Iletisim Hizmetleri A.S. recorded a solid revenue growth of 9.8% in 2024, attributed to strong demand for telecommunications services and effective customer retention. The profit growth of 7.5% during...
Revenue Growth: 9.8% (2024) Profit Growth: 7.5% (2024) Market Share in Turkey: 42% (2024)
Turkcell Iletisim Hizmetleri A.S. recorded a solid revenue growth of 9.8% in 2024, attributed to strong demand for telecommunications services and effective customer retention. The profit growth of 7.5% during the same period indicates the company's ability to efficiently manage costs while remaining profitable.
With a market share of 42% in Turkey, Turkcell remains a dominant player in the country's telecommunications sector. This strong market position provides a certain stability and enables the company to benefit from economies of scale.
Future investments in 5G infrastructure and digital services could offer additional growth opportunities. Given these factors, Turkcell's stock could be an attractive investment for investors interested in long-term growth prospects in the telecommunications sector.
Does Turkcell Iletisim Hizmetleri A.S. pay a dividend – and how reliable is the payout?
Dividend Yield: 4.5% (estimated for 2025)
Dividend History: Regular payouts over the last 5 years
Turkcell Iletisim Hizmetleri A.S. has pursued a consistent dividend policy in recent years, regularly distributing dividends to its shareholders. The estimated dividend yield of 4.5% in 2025 indicates a...
Dividend Yield: 4.5% (estimated for 2025)
Dividend History: Regular payouts over the last 5 years
Turkcell Iletisim Hizmetleri A.S. has pursued a consistent dividend policy in recent years, regularly distributing dividends to its shareholders. The estimated dividend yield of 4.5% in 2025 indicates an attractive payout compared to other telecommunications companies.
The reliability of dividend payments is supported by the company's stable financial performance. Turkcell has demonstrated in the past its ability to make continuous payouts despite economic fluctuations. Analysts believe that the company will be able to continue its dividend policy in the future as long as no significant negative market changes occur.
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